,CANADA ,CU/OMS & ,REV5UE ,AG5CY ,9COME ,TAX ,3TRIBU;NS 6,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS ,9TREPRET,N ,BULLET9 ,,IT-#ABD;,R#F ,9 ,"O ,VOLUME ,PR9T ,PAGES #A-AD ,BRL ,PAGES ;I-;II & #A-GG ,9DEX ,BRL PAGES ,APPLIC,N """"""""""""""""""""""""""" #B ,SUMM>Y """"""""""""""""""""""""""""" #B ,4CUS.N & ,9T]PRET,N """""""""""""""" #E ,G5]AL ,-;TS """""""""""""""""""""" #E ,9T]E/ ,EXP5SE & ,ADM9I/R,N ,FEES """ #I ,3TRIBU;NS 6! ,TAXPAY]'S ,,RRSP """" #AJ ,DEDUC;N ( ,PREMIUMS """"""""""""" #AJ ,,RRSP ,DEDUC;N ,LIMIT """"""""""" #AE ,C>RY=W>D ( ,UNUS$ ,,RRSP ,DEDUC;N ,ROOM """"""""""""""""" #BC ,P]SONS ,3NECT$ ,) ,_! ,EMPLOY]S """ #CB ,"P-,YE> ,RESID5TS & ,NON- ,RESID5TS """""""""""""""""""""""" #CH ,3TRIBU;NS 6A ,SP\SAL ,,RRSP """"""" #DJ ,PAY;T ( ,PREMIUM 9 ,K9D """"""""""" #DB ,DEDUC;N = ,REFUND ( ,UNDEDUCT$ ,3TRIBU;NS MADE AF #AIIJ """"""""" #DC ,"P ,X4#A ,TAX ON ,EXCESS ,3TRIBU;NS MADE AF #AIIJ """"""""" #DH ,RECONTRIBU;N 6AN ,,RRSP """"""""""" #EB ,BANKRUPT ,TAXPAY]S """""""""""""""" #EE ;I ,9DEX ,GLOSS>Y """"""""""""""""""""""""""" #EF ,EXPLAN,N ( ,*ANGES = ,9T]PRET,N ,BULLET9 ,,IT-#ABD;,R#F ,3TRIBU;NS 6,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS """""""""""""""""""" #FF ,9TRODUC;N """"""""""""""""""""""" #FF ,OV]VIEW """"""""""""""""""""""""" #FG ,LEGISLATIVE & ,O!R ,*ANGES """""" #FH ;II ,CANADA ,CU/OMS #A & ,REV5UE ,AG5CY ,9COME ,TAX ,9T]PRET,N ,BULLET9 ,SUBJECT3 ,9COME ,TAX ,ACT ,3TRIBU;NS 6,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS ,NUMB]3 ,,IT-#ABD;,R#F ,DATE3 ,JANU>Y #CA1 #AIIE ,REF];E3 ,SUBSEC;NS #ADF7#E7 & 7#E.A7 7AL SEC;NS #FJ.JA & #BJD.A 6#BJD.C &! DEF9I;N ( 84POSI;N0 9 SEC;N #ED2 SUBSEC;NS #AJD7#AJ.B71 7#BG7 & 7#BG.A71 #ADF7#A71 7#B71 7#C71 7#F.A71 7#H.B71 7#H.BA7 & 7#H.C71 #ADF.C7#E.A71 #ADG.A7#A71 #ADG.C7#AC.A7 & #AEB7#F72 & P>AGRAPHS #AH7#AA77B71 #BJ7#A77BB71 #DJ7#B77G71 #FJ7I71 7J71 7J4#A71 7L7 & 7;V71 & #ABH7#B77D7 (! ,9COME ,TAX ,ACT2 & SEC;NS #GHJJ1 #HCJC & #HCJD2 SUBSEC;NS #HCJA7#A7 TO 7#D71 7#F71 7#H7 & 7#I71 #HCJG7#C71 7#E71 7#F7 & 7#G71 #A ,,IT-#ABD;,R#F A#A #HCJH7#B71 & #HEJJ7#A7 & 7#C7 (! ,9COME ,TAX ,REGUL,NS7 ,APPLIC,N ,? BULLET9 C.ELS & REPLACES ,9T]PRET,N ,BULLET9 ,,IT-#ABD;,R#E DAT$ ,M>* #G1 #AIHF4 ,! -;TS 9 ? BULLET9 REFLECT AM5D;TS 6! ,9COME ,TAX ,ACT & ,REGUL,NS RESULT+ F ,P5.N ,RE=M4 ,S9CE _M ( ^! AM5D;TS 2CAME E6ECTIVE =! #AIIA & LAT] TAX,N YE>S1 ? BULLET9 APPLIES PRIM>ILY 6TAX,N YE>S AF #AIIJ4 ,= 9=M,N AB ! RULES T APPLY 6TAX,N YE>S 2F #AIIA1 PL1SE REF] 6! LAW4 ,SUMM>Y ,? BULLET9 4CUSSES ! RULES = DET]M9+ ! MAXIMUM AM.T A TAXPAY] C DEDUCT =A YE> AF #AIIJ = REGI/]$ RETIRE;T SAV+S PLAN 7,,RRSP7 3TRIBU;NS4 ,G5],Y1 A TAXPAY]'S ,,RRSP DEDUC;N LIMIT =A YE> IS EQUAL 6#AH@3P (! TAXPAY]'S E>N$ 9COME =! #B ,,IT-#ABD;,R#F B#A PREVI\S YE> 76A MAXIMUM AM.T7 M9US AN AM.T 9 RESPECT ( B5EFITS T A3RU$ 6! TAXPAY] "U REGI/]$ P5.N PLANS 7,,RPP'S7 & DEF]R$ PR(IT %>+ PLANS 7,,DPSP'S7 =! PREVI\S YE>4 ,! REDUC;N 6! ,,RRSP DEDUC;N LIMIT 6REFLECT "PICIP,N 9 ,,RPP'S & ,,DPSP'S IS 9T5D$ 6PROVIDE T ALL TAXPAY]S H A SIMIL> OPPORTUN;Y = TAX-ASSI/$ RETIRE;T SAV+S REG>D.S ( DI6];ES 9 _! P5.N >RANGE;TS4 ,AL1 IF A TAXPAY] 3TRIBUTES LESS ?AN ALL[$ 9 A YE>1 ! TAXPAY] MAY 2 A# 6MAKE UP =! MISS$ 3TRIBU;NS 9 LAT] YE>S4 ,? BULLET9 AL 4CUSSES ! RULES GOV]N+ ITEMS S* Z ! TAX IMPOS$ "U ,"P ,X4#A (! ,ACT ON EXCESS 3TRIBU;NS &! DEDUC;N ALL[$ = )DRAWALS ( UNDEDUCT$ 3TRIBU;NS4 ,EXPLAN,NS ( C]TA9 T]MS US$ "?\T ? BULLET9 >E PROVID$ 9 ! ,GLOSS>Y AT ! 5D4 ,! SUBJECT MATT] ( ? BULLET9 IS >RANG$ "U ! 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IMMLY PREC$+ YE> 7#AIIC7 """""""""""""""""""" 4#EJJ ,,RRSP DEDUC;N LIMIT =! CURR5T YE> 7#AIID7 """""""""""""""""" 4#E1IJJ ,TAXPAY]S 9 ? SITU,N PROBABLY W F9D ! -;TS 9 #H 6#BJ 2L ( LIMIT$ RELEV.E S9CE ^! P>AGRAPHS EXPLA9 ! LAW Z X APPLIES 6M -PLEX P5.N SITU,NS4 ,EMPLOYEES :O 2L;G 6AN ,,RPP OR A #F ,,IT-#ABD;,R#F A#B ,,DPSP CALCULATE ! ,,RRSP DEDUC;N LIMIT 9 M* ! SAME WAY EXCEPT T X IS REDUC$ 0! TAXPAY]'S P5.N ADJU/;TS =! PREVI\S YE> &! TAXPAY]'S NET PA/ S]VICE P5.N ADJU/;T =! CURR5T YE>4 ,S* TAXPAY]S1 IF !Y D N H A NET PA/ S]VICE P5.N ADJU/;T =! CURR5T YE>1 MAY AL F9D ! -;TS 9 #H 6#BJ ( LIMIT$ RELEV.E4 ,9=M,N ON ! M -MON ,,RRSP SITU,NS IS 3TA9$ 9 ! 9COME TAX GUIDE 5TITL$ ,,RRSP'S & ,O!R ,REGI/]$ ,PLANS = ,RETIRE;T4 ,! M1N+ (! T]MS 8NET PA/ S]VICE P5.N ADJU/;T0 & 8P5.N ADJU/;T0 IS 4CUSS$ 9 ! ,GLOSS>Y4 #B4 ,3TRIBU;NS MADE 6AN ,,RRSP AF #AIIJ MAY1 )9 SPECIFI$ LIMITS1 2 DEDUCT$ F 9COME "U P>AGRAPH #FJ7I74 ,! 3TRIBU;NS MAY 2 = PREMIUMS 7SEE EXPLAN,N (! T]M 8PREMIUMS0 9 ! ,GLOSS>Y7 PD 6A PLAN "U : ! 3TRIBUTOR OR ! 3TRIBUTOR'S SP\SE IS ! ANNUITANT PURSUANT 6SUBSEC;NS #ADF7#E7 & 7#E.A7 RESPECTIVELY4 #G ,,IT-#ABD;,R#F B#B ,! M1N+ (! T]M 8SP\SE0 IS 4CUSS$ 9 ! ,GLOSS>Y4 #C4 ,SUBSEC;NS #ADF7#B7 & 7#C7 SET \ ! 3DI;NS = REGI/R,N (A RETIRE;T SAV+S PLAN4 ,"O 3DI;N IS T NO 3TRIBU;NS MAY 2 MADE 6AN ,,RRSP AF XS MATUR;Y4 ,P>AGRAPH #ADF7#B77B4#D7 PROVIDES T MATUR;Y M/ O3UR 2F ! YE> 9 : ! ANNUITANT 2COMES #GB YE>S ( AGE4 ,"!=E1 A TAXPAY] MAY 3TRIBUTE 6HIS OR H] [N ,,RRSP UP 6! 5D (! YE> T ! TAXPAY] TURNS #GA YE>S ( AGE4 ,IF ! 3TRIBU;N IS MADE 6AN UNMATUR$ ,,RRSP "U : ! TAXPAY]'S SP\SE IS ! ANNUITANT1 ! TAXPAY] MAY 3TRIBUTE UP 6! 5D (! YE> 9 : 8 OR H] SP\SE TURNS #GA YE>S ( AGE4 #H ,9T]E/ ,EXP5SE & C#B ,ADM9I/R,N ,FEES #D4 ,P>AGRAPH #AH7#AA77B7 PROVIDES T 9T]E/ ON M"OY BORR[$ 0TAXPAY]S 6PAY PREMIUMS 6_! [N OR _! SP\SE'S ,,RRSP & 9T]E/ ON M"OY BORR[$ 6MAKE REPAY;TS ( AM.TS )DRAWN "U ! ,HOME ,BUY]S' ,PLAN >E N DEDUCTI# 9 -PUT+ 9COME4 ,AL PROHIBIT$ IS ! DEDUC;N ( 9T]E/ EXP5SE 9CURR$ 6PUR*ASE AN 9COME-PRODUC+ PROP]TY 7S* Z %>ES LI/$ ON A PRESCRIB$ /OCK EX*ANGE 9 ,CANADA OR ,CANADA ,SAV+S ,BONDS7 AF ! PROP]TY IS TRANSF]R$ 6AN ,,RRSP Z ! PAY;T (A PREMIUM4 ,R1SONA# ADM9I/R,N FEES PD 0A TAXPAY] 6! TRU/EE (! TAXPAY]'S [N ,,RRSP 7B N 6! TRU/EE (A SP\SAL ,,RRSP7 >E 3SID]$ 6BE DEDUCTI# EXP5SES 9 -PUT+ 9COME F PROP]TY & >E N PROHIBIT$ 0! RULES 9 SEC;N #AH4 ,^! ADM9I/R,N FEES RELATE 6! OV]ALL DIREC;N & MANAGE;T (! A6AIRS (! ,,RRSP TRU/ & >E =! TYPE ( S]VICES NORM,Y PROVID$ 6! ANNUITANT4 ,FEES = #I ,,IT-#ABD;,R#F D#B 9VE/;T C\NSELL+ >E ONLY DEDUCTI# IF !Y MEET ! 3DI;NS ( P>AGRAPH #BJ7#A77BB74 ,T P>AGRAPH REQUIRES1 AM;G O!R ?+S1 T ! S]VICES 2 = %>ES OR SECURITIES (! TAXPAY]4 ,Z ! 9VE/;TS (! ,,RRSP TRU/ >E N ! 9VE/;TS (! TAXPAY]1 ! TAXPAY] _C DEDUCT ! FEES "U P>AGRAPH #BJ7#A77BB7 = 9VE/;T C\NSELL+ PROVID$ 6! TRU/4 ,ON ! O!R H&1 BROK]AGE FEES & -MIS.NS 9CURR$ 0! ,,RRSP TRU/ =M "P (! CO/ ( ACQUIR+ OR 4POS+ ( 9VE/;TS4 ,ACLY1 !Y %D 2 A3.T$ = 9 DET]M9+ ! CO/ (! 9VE/;T & 9 DET]M9+ XS PROCE$S ( 4POSI;N4 ,3TRIBU;NS 6! ,TAXPAY]'S ,,RRSP ,DEDUC;N ( ,PREMIUMS #E4 ,SUBSEC;N #ADF7#E7 3TA9S ! RULES GOV]N+ ! DEDUCTIBIL;Y ( PREMIUMS PD 0A TAXPAY] 6,,RRSP'S "U : ! TAXPAY] IS ! ANNUITANT4 ,2G9N+ 9 #AIIA1 ! MAXIMUM #AJ ,,IT-#ABD;,R#F E#B AM.T T A TAXPAY] MAY DEDUCT 9 -PUT+ 9COME =A YE> IS LIMIT$ 6! .LESS] (3 A7 ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE> 7SEE #H 2L72 & B7 ! AM.T1 IF ANY1 0: ! TOTAL ( ALL PREMIUMS PD AF #AIIJ & )9 #FJ "DS AF ! 5D (! YE> 7O!R ?AN ! EXCEP;NS NOT$ 9 #G 2L7 EXCE$S ! AM.T1 IF ANY1 0:3 --! TOTAL AM.T DEDUCT$ 0! TAXPAY] "U SUBSEC;N #ADG.C7#AC.A7 =! YE> OR A PREC$+ YE>3 .EXCE$S --! TOTAL AM.T = TRANSF]S 2F #AIIA F ,,RPP'S1 DEEM$ 0P>AGRAPH #ADG.C7#AJ77B7 OR 7C7 6BE A PREMIUM PD 0! TAXPAY] 6AN ,,RRSP4 ,SUBSEC;N #ADG.C7#AC.A71 REF]R$ 6IN 7B7 ABV1 PROVIDES A DEDUC;N = )DRAWALS ( ,,RRSP PREMIUMS RESULT+ F AN EXCESS TRANSF] (A LUMP SUM PAY;T F AN ,,RPP 6AN ,,RRSP OR A ,,RRIF4 #AA ,,IT-#ABD;,R#F #C ,ANY ,,RRSP PREMIUMS PD AF #AIIJ MAY 2 C>RI$ =W>D & DEDUCT$ "U SUBSEC;N #ADF7#E7 = ANY SUBSEQU5T YE>1 6! EXT5T T !Y W]E3 --N DEDUCT$ =! YE> 9 : !Y 7 PD1 OR --IN ! CASE ( PREMIUMS PD 9 ! F/ #FJ "DS (A YE>1 N DEDUCT$ =! IMMLY PREC$+ YE>4 #F4 ,IF1 AT ANY "T 9 A YE>1 ! TAXPAY]'S UNDEDUCT$ PREMIUMS 7Z DET]M9$ "U SUBSEC;N #BJD.B7#A.B771 EXCE$ ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT 7SEE #H 2L71 ! TAXPAY] MAY 2 LIA# = TAX "U ,"P ,X4#A ON ! EXCESS 3TRIBU;NS UNTIL !Y >E )DRAWN F ! PLAN 7SEE #CJ 2L74 ,! TAXPAY] MAY )DRAW ! EXCESS 3TRIBU;NS \ (! ,,RRSP ON A TAX-FREE BASIS IF ! )DRAWAL IS MADE )9 A SPECIFI$ "T 7SEE #BG 2L =! 3DI;NS T M/ 2 MET74 #G4 ,C]TA9 PREMIUMS MAY N 2 DEDUCT$ "U SUBSEC;N #ADF7#E7 9 -PUT+ 9COME =A YE>4 ,^! 9CLUDE ALL OR ANY POR;N ( PREMIUMS3 #AB ,,IT-#ABD;,R#F A#C A7 T 7 PD 6AN ,,RRSP AT A "T :5 ! TAXPAY] 0 N ! ANNUITANT (! ,,RRSP2 B7 T 7 DEDUCT$ 9 -PUT+ ! TAXPAY]'S 9COME =A PREC$+ TAX,N YE>2 C7 T 7 DESIGNAT$ Z A TRANSF] (3 --C]TA9 SUP]ANNU,N OR P5.N B5EFITS1 OR ELIGI# AM.TS DESCRIB$ 9 SEC;N #FJ.JA1 SUBSEC;N #AJD7#BG7 OR 7#BG.A7 OR P>AGRAPH #ADG7#AJ.B77D71 6! EXT5T P]MITT$ "U P>AGRAPH #FJ7J72 --RETIR+ ALL[.ES "U P>AGRAPH #FJ7J4#A72 OR --C]TA9 PAY;TS S* Z ,,RRSP REFUNDS ( PREMIUMS1 ,,RRSP -MUT,N B5EFITS1 OR ELIGI# AM.TS 9 RESPECT ( REGI/]$ RETIRE;T 9COME FUNDS 7,,RRIF'S7 7)9 ! M1N+ ASSIGN$ 0SUBSEC;N #ADF.C7#F.AA771 6! EXT5T PROVID$ "U P>AGRAPH #FJ7L72 #AC ,,IT-#ABD;,R#F B#C D7 = : ! TAXPAY] HAS RCVD A PAY;T T 0 DEDUCT$ "U SUBSEC;N #ADF7#H.B7 9 -PUT+ ! 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TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! IMMLY PREC$+ YE> 7SEE #AJ 6#AF 2L72 .PLUS3 ! AM.T1 IF ANY1 0: ! .LESS] (3 A7 #AH@3P (! TAXPAY]'S 8E>N$ 9COME0 =! IMMLY PREC$+ YE>1 & B7 ! 8,,RRSP DOLL> LIMIT0 =! "PICUL> YE>1 .EXCE$S C7 ! TAXPAY]'S 8P5.N ADJU/;TS0 7,,PA'S7 =! IMMLY PREC$+ YE> OR A PRESCRIB$ AM.T 7SEE ! ,NOTE 2L7 =! YE>1 #AE ,,IT-#ABD;,R#F D#C .M9US3 ! TAXPAY]'S 8NET PA/ S]VICE P5.N ADJU/;T0 7NET ,,PSPA7 =! "PICUL> YE>4 ,A TAXPAY]'S ,,PA'S C 2 G5],Y DESCRIB$ Z A M1SURE (! TOTAL B5EFITS T A3RU$ 6! TAXPAY] 9 ! YE> "U ALL EMPLOY]- SPONSOR$ ,,RPP'S & ,,DPSP'S4 ,A TAXPAY]'S NET ,,PSPA IS ESS5TI,Y A M1SURE (! IMPROVE;TS MADE 6! TAXPAY]'S B5EFITS "U A DEF9$ B5EFIT ,,RPP 9 RESPECT ( PO/-#AIHI PA/ S]VICE4 ,! DEF9I;N ( NET ,,PSPA 9CLUDES ANY AM.TS PRESCRIB$ = ? PURPOSE4 ,9 A4I;N1 ! ,,RRSP DEDUC;N LIMIT ALL[S =A C>RYOV] ( UNUS$ ,,RRSP DEDUC;N ROOM 7SEE #AJ 6#AF 2L74 ,UNUS$ ,,RRSP DEDUC;N ROOM W USU,Y RESULT IF ! AM.T A TAXPAY] DEDUCTS = ,,RRSP 3TRIBU;NS =A "PICUL> YE> IS LESS ?AN ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE>4 ,! ,,RRSP DEDUC;N LIMIT ( C]TA9 TAXPAY]S MAY 2 REDUC$ IF !Y >E 3NECT$ ) _! EMPLOY]S & !Y JO9 _! EMPLOY]S' ,,RPP'S OR #AF ,,IT-#ABD;,R#F E#C RECOMM;E 6A3RUE LIFE"T RETIRE;T B5EFITS "U _! EMPLOY]S' ,,RPP'S4 ,! -;TS 9 #AG 6#BJ 2L EXPLA9 ? SPECIAL RULE 9 GRT] DETAIL4 ,NOTE3 ,! FOLL[+ PROPOS$ *ANGES MAY A6ECT AN 9DIVIDUAL'S ,,PA OR ,,PSPA1 &! CALCUL,N ( AN 9DIVIDUAL'S ,,RRSP DEDUC;N LIMIT =A YE>4 ,^! PROPOS$ *ANGES RELATE TO 8GOV]N;T-SPONSOR$ RETIRE;T >RANGE;TS 7,,GSRA710 8=EIGN PLANS 7,,FP'S710 & 8SPECIFI$ RETIRE;T >RANGE;TS 7,,SRA'S740 ,PROPOS$ SUBSEC;NS #HCJH.D7#A71 #HCJH.A7#A71 & #HCJH.C7#A7 (! DRAFT ,REGUL,NS REL1S$ 0! ,M9I/] ( ,F9.E ON ,DECEMB] #AH1 #AIIB1 3TA9 ! DEF9I;NS ( 8,,GSRA10 8,,FP10 & 8,,SRA10 RESPECTIVELY4 ,9 DET]M9+ A TAXPAY]'S ,,RRSP DEDUC;N LIMIT Z DEF9$ "U 8,,RRSP DEDUC;N LIMIT0 9 SUBSEC;N #ADF7#A71 A #AG ,,IT-#ABD;,R#F F#C PRESCRIB$ AM.T 9 RESPECT (A TAXPAY] =! YE> IS --------------------------------------#D DEDUCT$4 ,! DRAFT ,REGUL,NS PROPOSE 6ADD NEW SUBSEC;N #HCJH.D7#B74 ,? PROPOS$ SUBSEC;N PRESCRIBES AN AM.T = C]TA9 9DIVIDUALS :O >E 5TITL$ 6B5EFITS "U A 8,,GSRA0 : IS DEF9$ 9 NEW SUBSEC;N #HCJH.D7#A7 (! DRAFT ,REGUL,NS4 ,Z A RESULT1 ! PRESCRIB$ AM.T =A TAXPAY] :O IS 5TITL$ 6B5EFITS "U A ,,GSRA IS DEDUCT$ 9 DET]M9+ ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT4 ,IF PROMULGAT$ Z PROPOS$1 NEW SUBSEC;N #HCJH.D7#B7 W APPLY = #AIID & SUBSEQU5T TAX,N YE>S4 ,9 A4I;N1 ! DRAFT ,REGUL,NS PROPOSE 69CLUDE NEW SEC;N #HCJH.B4 ,? PROPOS$ SEC;N PRESCRIBES AN AM.T = C]TA9 9DIVIDUALS :O >E RESID5T 9 ,CANADA & :O "PICIPATE 9 =EIGN PLANS4 ,! PRESCRIB$ AM.T IS DEDUCT$ 9 DET]M9+ ! 9DIVIDUAL'S ,,RRSP DEDUC;N LIMIT #AH ,,IT-#ABD;,R#F A#D Z DEF9$ "U 8,,RRSP DEDUC;N LIMIT0 9 SUBSEC;N #ADF7#A74 ,IF PROMULGAT$ Z PROPOS$1 NEW SUBSEC;N #HCJH.B (! DRAFT ,REGUL,NS W APPLY = #AIID & SUBSEQU5T TAX,N YE>S4 ,PROPOS$ SEC;N #HCJH.B (! DRAFT ,REGUL,NS AL SETS \ ! CALCUL,N (! PRESCRIB$ AM.T4 ,! DRAFT ,REGUL,NS AL 9CLUDE A PROPOSAL 6AM5D SUBSEC;N #HCJA7#A74 ,X IS PROPOS$ T ! DEF9I;N ( ,,PA 2 AM5D$ 69CLUDE A4I;NAL AM.TS 9 ! ,,PA'S ( C]TA9 9DIVIDUALS :O "PICIPATE 9 ,,FP'S OR ,,SRA'S4 ,IF PROMULGAT$ Z PROPOS$1 SUBSEC;N #HCJA7#A7 (! DRAFT ,REGUL,NS W APPLY 6! DET]M9,N ( ,,PA'S = ,,FP'S = #AIIB & SUBSEQU5T TAX,N YE>S &= ,,SRA'S = #AIIC & SUBSEQU5T TAX,N YE>S4 ,! M1N+ (! T]M 8P5.N ADJU/;T0 IS 4CUSS$ 9 ! ,GLOSS>Y4 ,! DEF9I;N ( 8NET PA/ S]VICE P5.N ADJU/;T0 9 SUBSEC;N #ADF7#A7 9CLUDES 9 A TAXPAY]'S NET ,,PSPA ANY AM.TS #AI ,,IT-#ABD;,R#F B#D PRESCRIB$ 0NEW SEC;N #HCJH.D (! ,REGUL,NS : 0 9CLUD$ 9 ! DRAFT AM5D;TS 6! ,REGUL,NS REL1S$ ON ,DECEMB] #AH1 #AIIB4 ,? PROPOS$ NEW SEC;N A6ECTS TAXPAY]S :O A3RUE B5EFITS "U 8,,GSRA'S40 ,IF NEW SEC;N #HCJH.D (! ,REGUL,NS IS PROMULGAT$ Z PROPOS$1 X W APPLY 6#AIID & SUBSEQU5T TAX,N YE>S4 ,! M1N+ (! T]M 8NET PA/ S]VICE P5.N ADJU/;T0 IS 4CUSS$ 9 ! ,GLOSS>Y4 ,9 A4I;N1 ! DRAFT ,REGUL,NS 9CLUDE A PROPOSAL 6AM5D ! DEF9I;N ( ,,PSPA 9 SUBSEC;N #HCJC7#A7 69CLUDE A4I;NAL AM.TS 9 ! ,,PSPA'S ( C]TA9 9DIVIDUALS :O "PICIPATE 9 ,,FP'S OR ,,SRA'S4 ,IF PROMULGAT$ Z PROPOS$1 ? AM5D;T 6SUBSEC;N #HCJC7#A7 (! ,REGUL,NS W APPLY 6! DET]M9,N ( ,,PSPA'S = ,,FP'S = #AIIC & SUBSEQU5T TAX,N YE>S &= ,,SRA'S = #AIID & SUBSEQU5T TAX,N YE>S4 #BJ ,,IT-#ABD;,R#F C#D #I4 ,! FOLL[+ EXAMPLE %[S H[ ! ,,RRSP DEDUC;N LIMIT = #AIIC IS CALCULAT$ =A TAXPAY] :O IS A MEMB] ( AN EMPLOY]- SPONSOR$ ,,RPP OR ,,DPSP4 ,! TAXPAY] _H E>N$ 9COME ( 4#CJ1JJJ 9 #AIIB1 A #AIIB ,,PA ( 4#B1EJJ & NO NET ,,PSPA = #AIIC4 ,EXAMPLE ;,A ,UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! IMMLY PREC$+ YE> 7#AIIB7 """ NIL .PLUS3 ! AM.T1 IF ANY1 0: ! .LESS] (3 A7 ! ,,RRSP DOLL> LIMIT 7#A7 =! CURR5T YE> 7#AIIC7 """" 4#AB1EJJ & B7 #AH@3P ( E>N$ 9COME =! IMMLY PREC$+ YE> 7#AIIB7 7#AH@3P #BA ,,IT-#ABD;,R#F D#D MULTIPLI$ 04#CJ1JJJ7 4#E1DJJ 4#E1DJJ .EXCE$S C7 TOTAL ,,PA'S 7#A7 =! IMMLY PREC$+ YE> = ALL EMPLOY]S 7#AIIB7 """ 4#B1EJJ """""""""""""""""""""""" 4#B1IJJ 7#B7 .M9US3 NET ,,PSPA 7#A7 =! CURR5T YE> 7#AIIC7 """"""""""""""" NIL ..,,RRSP DEDUC;N LIMIT =! CURR5T YE> 7#AIIC7 """"""""""" 4#B1IJJ 7#A7 ,,RRSP DOLL> LIMIT1 ,,PA'S & NET ,,PSPA >E EXPLA9$ 9 ! ,GLOSS>Y4 7#B7 ,? AM.T _C 2 NEGATIVE4 ,"!=E1 9 CASES ": TOTAL ,,PA'S =! IMMLY PREC$+ YE> EXCE$ ! LESS] (! ,,RRSP DOLL> LIMIT =! CURR5T YE> & #AH@3P ( E>N$ 9COME =! IMMLY PREC$+ YE>1 ? AM.T IS NIL4 ,Z %[N 9 ! EXAMPLE1 ! ,,RRSP DEDUC;N LIMIT HAS BE5 REDUC$ 6REFLECT ! #BB ,,IT-#ABD;,R#F E#D EXT5T 6: ! TAXPAY] HAS BE5 CR$IT$ ) B5EFITS "U ,,RPP'S & ,,DPSP'S 9 ! PREVI\S YE>4 ,C>RY=W>D ( ,UNUS$ ,,RRSP ,DEDUC;N ,ROOM #AJ4 ,! T]M 8UNUS$ ,,RRSP DEDUC;N ROOM0 IS DEF9$ 9 SUBSEC;N #ADF7#A74 ,9 G5]AL1 ! UNUS$ ,,RRSP DEDUC;N ROOM (A TAXPAY] AT ! 5D (A YE> IS ! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM C>RI$ =W>D F ! IMMLY PREC$+ YE>1 PLUS A4I;NAL ,,RRSP DEDUC;N ROOM T 2CAME AVAILA# 9 ! YE>1 M9US ,,RRSP DEDUC;N ROOM US$ 9 ! YE>4 ,2C A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A "PICUL> YE> =MS "P (! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! IMMLY FOLL[+ YE>1 ! TAXPAY] W N1 SUBJECT 6! C>RY=W>D LIMIT 4CUSS$ 9 #AB & #AC 2L1 LOSE ! ,,RRSP DEDUC;N IF ! TAXPAY] DOES N FULLY USE 8 OR H] ,,RRSP DEDUC;N LIMIT =A GIV5 YE>4 #BC ,,IT-#ABD;,R#F #E #AA4 ,! T]M 8UNUS$ ,,RRSP DEDUC;N ROOM0 IS LIMIT$ 6AM.TS A3UMULAT$ = TAX,N YE>S AF #AIIJ4 ,=! PURPOSE ( CALCULAT+ A TAXPAY]'S ,,RRSP DEDUC;N LIMIT = #AIIA1 P>AGRAPH 7A7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A7 PROVIDES T A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D ( #AIIJ IS NIL4 #AB4 ,A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A YE> IS ! LESS] ( TWO AM.TS4 ,! F/ AM.T IS ! ,,RRSP DEDUC;N ROOM T IS AVAILA# = C>RY=W>D4 ,? AM.T1 : C 2 POSITIVE OR NEGATIVE1 IS DET]M9$ "U ! RULES 3TA9$ 9 SUBP>AGRAPH 7B77;I7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A7 & IS ESS5TI,Y EQUAL TO3 A7 ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE> .M9US B7 ! TOTAL (3 --! AM.TS DEDUCT$ =! YE> "U SUBSEC;NS #ADF7#E7 & 7#E.A7 #BD ,,IT-#ABD;,R#F A#E = PREMIUMS PD 0! TAXPAY] 6,,RRSP'S "U : ! TAXPAY] OR ! TAXPAY]'S SP\SE IS ! ANNUITANT2 & --! AM.TS DEDUCT$ =! YE> "U P>AGRAPH #FJ7;V7 = 3TRIBU;NS MADE 0! TAXPAY] 6A PRESCRIB$ PROV9CIAL P5.N PLAN 7SEE SEC;N #GHJJ (! ,REGUL,NS74 ,! SECOND AM.T 7! 8C>RY=W>D LIMIT10 Z 4CUSS$ 9 #AC 2L7 IMPOSES AN OV]ALL LIMIT ON ! AM.T ( UNUS$ ,,RRSP DEDUC;N ROOM T MAY 2 C>RI$ =W>D4 #AC4 ,! C>RY=W>D LIMIT1 Z DET]M9$ "U ! RULES 3TA9$ 9 SUBP>AGRAPH 7B77;II7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A71 IS ! .GRT] (3 A7 ! TOTAL ( ALL AM.TS = EA* (! CURR5T YE> &! SIX IMMLY PREC$+ YE>S 7B ONLY YE>S AF #AIIJ71 T IS EQUAL 6! .LESS] (3 --! ,,RRSP DOLL> LIMIT =! YE>2 & --#AH@3P (! TAXPAY]'S E>N$ 9COME =! PREVI\S YE>2 & #BE ,,IT-#ABD;,R#F B#E B7 SEV5 OV] TWO (! ,,RRSP DOLL> LIMIT =! CURR5T YE>4 ,! LIMIT,N 9 7A7 ALL[S UNUS$ ,,RRSP DEDUC;N ROOM 6BE C>RI$ =W>D =A MAXIMUM ( SEV5 YE>S1 />T+ ) ANY ,,RRSP DEDUC;N ROOM N US$ 9 #AIIA4 ,= TAXPAY]S :O "PICIPATE 9 ,,RPP'S & ,,DPSP'S1 ! C>RY=W>D P]IOD W G5],Y 2 L;G] 2C _! ,,PA'S W USU,Y KEEP ! AM.T DET]M9$ "U SUBP>AGRAPH 7B77;I7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A7 LESS ?AN ! LIMIT,NS 9 SUBP>AGRAPH 7B77;II7 ( T DEF9I;N4 ,! LIMIT,N 9 #AC7B7 ALL[S A 3SID]A# AM.T ( UNUS$ ,,RRSP DEDUC;N ROOM 6BE C>RI$ =W>D 9DEF9ITELY4 ,? RULE WD 2 B5EFICIAL 6TAXPAY]S :O H RETIR$ OR O!RWISE BE5 \ (! LAB\R =CE =A NUMB] ( YE>S Z X PREV5TS _! UNUS$ ,,RRSP DEDUC;N ROOM F FALL+ 6Z]O4 #AD4 ,A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A YE> W USU,Y 2 POSITIVE OR Z]O1 B X C AL 2 NEGATIVE4 ,= #BF ,,IT-#ABD;,R#F C#E EXAMPLE1 A TAXPAY] WD H NEGATIVE UNUS$ ,,RRSP DEDUC;N ROOM IF ! TAXPAY] HAS A NET ,,PSPA T EXCE$S ! AVAILA# ,,RRSP DEDUC;N ROOM =! YE>4 ,S9CE A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A YE> =MS "P (! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! FOLL[+ YE>1 NEGATIVE UNUS$ ,,RRSP DEDUC;N ROOM W USU,Y REDUCE ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! FOLL[+ YE>4 ,! TAXPAY] HAS 6C>RY =W>D ! NEGATIVE UNUS$ ,,RRSP DEDUC;N ROOM UNTIL X IS (FSET 0,,RRSP DEDUC;N ROOM T 2COMES AVAILA# 9 LAT] YE>S4 #AE4 ,6%[ H[ A TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A YE> IS CALCULAT$1 ,EXAMPLE ;,A 9 #I ABV IS 3T9U$ 2L4 ,ASSUME T ! TAXPAY] CLAIM$ AN ,,RRSP DEDUC;N ( 4#B1JJJ = #AIIC4 #BG ,,IT-#ABD;,R#F D#E ,EXAMPLE ;,B ,,RRSP DEDUC;N LIMIT =! CURR5T YE> 7#AIIC7 7P] EXAMPLE ;,A7 4#B1IJJ .M9US3 TOTAL ,,RRSP PREMIUMS DEDUCT$ =! CURR5T YE> 7#AIIC7 "U SUBSEC;NS #ADF7#E7 & 7#E.A7 """"""""""""""""""""""" 4#B1JJJ .M9US3 AM.T DEDUCT$ =! CURR5T YE> 7#AIIC7 "U P>AGRAPH #FJ7;V7 = 3TRIBU;NS 6A PRESCRIB$ PROV9CIAL P5.N PLAN """" NIL ..,UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! CURR5T YE> 7.#AIIC7 """" 4#IJJ ,9 ? EXAMPLE1 ! 5TIRE 4#IJJ IS AVAILA# = C>RY=W>D 6#AIID4 #AF4 ,EXAMPLE ;,C 2L %[S H[ ! C>RY=W>D ( UNUS$ ,,RRSP DEDUC;N ROOM MAY 2 RE/RICT$ AF #AIIG4 ,ASSUME T ! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D ( #AIIH 72F APPLY+ ! C>RY=W>D LIMIT7 IS 4#GB1BEJ & T ! AM.TS %[N 2L 9 COLUMN 7#B7 REFLECT #AH@3P (! #BH ,,IT-#ABD;,R#F E#E TAXPAY]'S E>N$ 9COME = EA* (! RELEVANT YE>S4 ,EXAMPLE ;,C ,"P ;,I--,CALCUL,N ( UNUS$ ,,RRSP DEDUC;N ROOM 2F C>RY=W>D LIMIT 7SUBP>AGRAPH 7B77;I7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A77 7,A7 ,UNUS$ ,,RRSP DEDUC;N ROOM 2F APPLY+ ! C>RY=W>D LIMIT "" 4#GB1BEJ --------------------------------------#F ,"P ,,II--,CALCUL,N ( C>RY=W>D LIMIT 7SUBP>AGRAPH 7B77;II7 (! DEF9I;N 8UNUS$ ,,RRSP DEDUC;N ROOM0 9 SUBSEC;N #ADF7#A77 ,TOTAL =! CURR5T YE> &! SIX IMMLY PREC$+ YE>S (! AM.T = EA* YE> T IS EQUAL 6! LESS] (! ,,RRSP DOLL> LIMIT =! YE> & #AH@3P (! TAXPAY]'S E>N$ 9COME =! PREVI\S YE>3 #BI ,,IT-#ABD;,R#F A#F ,TRANSCRIB]'S NOTE3 7,! FOLL[+ 0 SET-UP 9 F\R COLUMNS3 ,COLUMN #A3 ,YE> ,COLUMN #B3 7#A7 ,,RRSP DOLL> LIMIT ,COLUMN #C3 7#B7 #AH@3P ( PREVI\S YE>S' E>N$ 9COME ,COLUMN #D3 7#C7 ,LESS] ( 7#A7 & 7#B77 ,YE> """ 7#A7 """""""" 7#B7 """"" 7#C7 #AIIH 4#AG1EJJ 7#A7 4#H1IJJ 4#H1IJJ #AIIG 4#AF1EJJ 7#A7 4#AE1BJJ 4#AE1BJJ #AIIF 4#AE1EJJ """"""" NIL """"" NIL #AIIE 4#AD1EJJ """"""" NIL """"" NIL #AIID 4#AC1EJJ """"" 4#AF1AJJ 4#AC1EJJ #AIIC 4#AB1EJJ """"" 4#AD1JJJ 4#AB1EJJ #AIIB 4#AB1EJJ """"" 4#AJ1JJJ 4#AJ1JJJ 7,B7 ,TOTAL ( COLUMN 7#C7 """"" 4#FJ1AJJ 7,C7 SEV5 OV] TWO (! ,,RRSP DOLL> LIMIT =! CURR5T YE> 7#AIIH7 7SEV5 OV] TWO MULTIPLI$ 04#AG1EJJ7 7#A7 """ 4#FA1BEJ #CJ ,,IT-#ABD;,R#F B#F 7,D7 ,C>RY=W>D LIMIT--,GRT] ( 7,B7 & 7,C7 """"""""""""""""" 4#FA1BEJ ,UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! CURR5T YE> 7#AIIH7-- ,LESS] ( 7,A7 & 7,D7 """""""" 4#FA1BEJ 7#A7 ,! ,,RRSP DOLL> LIMITS = YE>S AF #AIIF W 2 4#AE1EJJ Z ADJU/$1 IF NEC1 6REFLECT 9CR1SES 9 ! AV]AGE ,CANADIAN WAGE4 ,! AM.TS %[N Z LIMITS =! YE>S #AIIG & #AIIH >E = ILLU/RATIVE PURPOSES ONLY4 ,9 ? EXAMPLE1 ! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D ( #AIIH HAS BE5 RE/RICT$ 64#FA1BEJ4 ,? AM.T =MS "P (! TAXPAY]'S ,,RRSP DEDUC;N LIMIT = #AIII4 #CA ,P]SONS ,3NECT$ ,) ,_! C#F ,EMPLOY]S #AG4 ,TAXPAY]S MAY F9D _! ,,RRSP DEDUC;N LIMIT REDUC$ IF !Y >E OR 7 3NECT$ ) _! EMPLOY]S AF #AIHI &1 AF #AIIJ1 JO9$ _! EMPLOY]S' ,,RPP'S OR RECOMM;ED 6A3RUE LIFE"T RETIRE;T B5EFITS "U A DEF9$ B5EFIT PROVI.N ( _! EMPLOY]S' ,,RPP'S4 ,SUBSEC;N #HEJJ7#C7 (! ,REGUL,NS PROVIDES T A P]SON IS 3NECT$ ) AN EMPLOY] AT ANY "T IF1 AT T "T1 ! P]SON3 A7 [NS1 DIRECTLY OR 9DIRECTLY1 #AJ@3P OR M (! ISSU$ %>ES ( ANY CLASS (! CAPITAL /OCK (! EMPLOY] OR ( ANY O!R CORPOR,N T IS RELAT$ 6! EMPLOY]2 B7 DOES N D1L AT >M'S L5G? )! EMPLOY]2 OR C7 IS DEEM$1 0P>AGRAPH 7D7 (! DEF9I;N ( 8SPECIFI$ %>EHOLD]0 9 SUBSEC;N #BDH7#A71 6BE A SPECIFI$ %>EHOLD] (! EMPLOY]4 #CB ,,IT-#ABD;,R#F D#F ,9 A4I;N1 SUBSEC;N #HEJJ7#C7 (! ,REGUL,NS DEEMS1 =! PURPOSE ( DET]M9+ :E!R OR N A P]SON IS 3NECT$ ) AN EMPLOY]1 A P]SON 6[N %>ES (A CORPOR,N [N$ BY3 --A P]SON ) :OM ! P]SON DOES N D1L AT >M'S L5G?2 --A TRU/ ( : ! P]SON IS A B5EFICI>Y1 6! EXT5T PROVID$ 0P>AGRAPH #HEJJ7#C77E72 OR --A "PN]%IP ( : ! P]SON IS A MEMB]1 6! EXT5T PROVID$ 0P>AGRAPH #HEJJ7#C77F74 ,AL1 A P]SON :O HAS A 3TRACTUAL "R 6ACQUIRE %>ES (! CAPITAL /OCK (A CORPOR,N IS DEEM$ 0P>AGRAPH #HEJJ7#C77G7 (! ,REGUL,NS 6[N ^? %>ES IF "O (! MA9 R1SONS =! EXI/;E (! "R MAY R1SONABLY 2 3SID]$ 6BE T ! P]SON N 2 3NECT$ ) AN EMPLOY]4 #AH4 ,SUBSEC;N #HCJH7#B7 (! ,REGUL,NS PRESCRIBES A REDUC;N 6A TAXPAY]'S ,,RRSP DEDUC;N LIMIT =A YE> IF3 #CC ,,IT-#ABD;,R#F E#F A7 AT ANY "T 9 ! YE>1 ! TAXPAY] 2COMES A MEMB] (! ,,RPP OR LIFE"T RETIRE;T B5EFITS 2G9 6A3RUE 6! TAXPAY] "U A DEF9$ B5EFIT PROVI.N (! ,,RPP FOLL[+ A P]IOD 9 : LIFE"T RETIRE;T B5EFITS DID N A3RUE 6! TAXPAY]2 B7 ! TAXPAY] IS 3NECT$ AT T "T1 OR 0 3NECT$ AT ANY "T AF #AIHI1 ) AN EMPLOY] :O "PICIPATES 9 ! ,,RPP =! B5EFIT (! TAXPAY]2 C7 ! TAXPAY] DID N H A POSITIVE ,,PA = #AIIJ2 & D7 SUBSEC;N #HCJH7#B7 HAS N PREVI\SLY APPLI$ 6PRESCRIBE AN AM.T =! TAXPAY]4 #AI4 ,! AM.T PRESCRIB$ 0SUBSEC;N #HCJH7#B7 (! ,REGUL,NS IS EQUAL 6! LESS] (3 A7 #AH@3P (! TAXPAY]'S E>N$ 9COME = ,,RRSP PURPOSES = #AIIJ2 & B7 4#AA1EJJ4 ,Z 9DICAT$ 9 #AH ABV1 ? AM.T REDUCES ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT #CD ,,IT-#ABD;,R#F F#F =A YE>4 ,X AL A6ECTS ! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (A YE> 7SEE #AJ 6#AB ABV7 &! TAXPAY]'S CUMULATIVE EXCESS AM.T 9 RESPECT ( ,,RRSP'S AT ANY "T 9 A YE> 7SEE #CJ 2L74 ,! TAXPAY]'S EMPLOY] M/ FILE ,=M ,T#AJJG1 ,3NECT$ ,P]SON ,9=M,N ,RETURN1 )9 #FJ "DS AF ! TAXPAY] 2COMES A MEMB] (! ,,RPP OR RECOMM;ES 6A3RUE LIFE"T RETIRE;T B5EFITS "U A DEF9$ B5EFIT PROVI.N --------------------------------------#G (! ,,RPP UN.S ! EMPLOY] HAS PREVI\SLY FIL$ ! 9=M,N RETURN 9 RESPECT (! TAXPAY]4 #BJ4 ,! FOLL[+ EXAMPLE %[S H[ ! ,,RRSP DEDUC;N LIMIT ( P]SONS 3NECT$ ) _! EMPLOY]S IS CALCULAT$4 ,ASSUME T ! TAXPAY] IS 3NECT$ ) 8 OR H] EMPLOY] AT ! "T ! TAXPAY] JO9$ ! EMPLOY]'S ,,RPP 9 #AIIC4 ,! TAXPAY] _H E>N$ 9COME ( 4#DJ1JJJ 9 #AIIJ & 4#EJ1JJJ 9 #AIIB1 UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D ( #CE ,,IT-#ABD;,R#F A#G #AIIB ( 4#A1JJJ1 NO ,,PA = #AIIJ & #AIIB1 & NO NET ,,PSPA = #AIIC4 ,UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! IMMLY PREC$+ YE> 7#AIIB7 4#A1JJJ .PLUS3 ! AM.T1 IF ANY1 0: ! .LESS] (3 A7 ! ,,RRSP DOLL> LIMIT =! CURR5T YE> 7#AIIC71 4#AB1EJJ & B7 #AH@3P ( E>N$ 9COME =! IMMLY PREC$+ YE> 7#AIIB7 7#AH@3P MULTIPLI$ 04#EJ1JJJ7 4#I1JJJ 4#I1JJJ .EXCE$S ! PRESCRIB$ AM.T : IS EQUAL 6! .LESS] .(3 C7 #AH@3P ( E>N$ 9COME = #AIIJ 7#AH@3P #CF ,,IT-#ABD;,R#F B#G MULTIPLI$ 04#DJ1JJJ71 4#G1BJJ & D7 4#AA1EJJ 4#AA1EJJ 4#G1BJJ """""""""""""""""""""""" 4#A1HJJ 7#A7 .M9US3 ! TOTAL ( E7 ,,PA'S =! PREVI\S YE> 7#AIIB71 & """"""""" NIL F7 NET ,,PSPA =! CURR5T YE> 7#AIIC7 """""""""""" NIL """"""" NIL ..,,RRSP DEDUC;N LIMIT =! CURR5T .YE> 7#AIIC7 """""""" 4#B1HJJ 7#A7 ,? AM.T _C 2 NEGATIVE4 ,"!=E1 9 CASES ": ! PRESCRIB$ AM.T EXCE$S ! LESS] (! ,,RRSP DOLL> LIMIT =! CURR5T YE> & #AH@3P ( E>N$ 9COME =! IMMLY PREC$+ YE>1 ? AM.T IS NIL4 ,! TAXPAY]'S ,,RRSP DEDUC;N LIMIT = #AIIC IS REDUC$ 0! PRESCRIB$ AM.T ( 4#G1BJJ 64#B1HJJ4 ,IF ! RULE = #CG ,,IT-#ABD;,R#F C#G 3NECT$ P]SONS _H N APPLI$1 ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT WD 2 4#AJ1JJJ4 ,2C ? RULE C APPLY ONLY ONCE 9 A TAXPAY]'S LIFE"T1 ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT = SUBSEQU5T YE>S W N 2 A6ECT$ 0? RULE4 ,"P-,YE> ,RESID5TS & ,NON- ,RESID5TS #BA4 ,= #AIIJ & SUBSEQU5T YE>S1 ! DEF9I;N ( 8E>N$ 9COME0 9 SUBSEC;N #ADF7#A7 9CLUDES C]TA9 9COME & REQUIRES ! DEDUC;N ( C]TA9 LOSSES 9 XS CALCUL,N 9 RESPECT (A TAXPAY] =A P]IOD 9 ! YE> "?\T : ! TAXPAY] 0 N RESID5T 9 ,CANADA = TAX PURPOSES4 ,! DEF9I;N ( E>N$ 9COME 9CLUDES SPECIFIC 9COME E>N$ 9 ,CANADA 9 A P]IOD "?\T : A TAXPAY] 0 N RESID5T 9 ,CANADA EXCEPT = ANY "P ( T 9COME EXEMPT F TAX,N 9 ,CANADA 0A TR1TY OR AN AGREE;T ) ANO!R C.TRY4 ,! DEF9I;N DOES N EXCLUDE ANY LOSSES F A BUSI;S 9CURR$ 9 ,CANADA DUR+ A #CH ,,IT-#ABD;,R#F D#G P]IOD "?\T : A TAXPAY] 0 A NON- RESID5T4 ,? RULE PREV5TS A NON-RESID5T OR A "P-YE> RESID5T F OBTA9+ ,,RRSP DEDUC;N ROOM BAS$ ON 9COME N TAXA# 9 ,CANADA4 ,=M ,T#AJBC1 ,,RRSP ,DEDUC;N ,LIMIT--,CALCUL,N ( ,E>N$ ,9COME = #AI --1 : IS 9CLUD$ 9 ! 9COME TAX GUIDE CALL$ ,,RRSP'S & ,O!R ,REGI/]$ ,PLANS = ,RETIRE;T1 3TA9S ! CALCUL,N ( E>N$ 9COME = NON-RESID5T 9DIVIDUALS4 #BB4 ,9 -PUT+ ! TAXA# 9COME (A "P-YE> RESID5T PURSUANT 6SEC;N #AAD1 ! TAX,N YE> =! PURPOSE ( SUBSEC;N #ADF7#E7 IS ! CAL5D> YE>4 ,"!=E1 ,,RRSP 3TRIBU;NS MADE )9 #FJ "DS AF ! 5D (! CAL5D> YE> 9 : ! TAXPAY]3 --C1S$ 6BE A RESID5T ( ,CANADA1 --2CAME A RESID5T ( ,CANADA1 OR --IS TAXA# PURSUANT 6SEC;N #AAE (! ,9COME ,TAX ,ACT1 >E DEDUCTI# 9 -PUT+ TAXA# 9COME = T YE> 6! EXT5T P]MITT$ 0SUBSEC;N #ADF7#E74 #CI ,3TRIBU;NS 6A ,SP\SAL ,,RRSP E#G #BC4 ,3TRIBU;NS MADE 0A TAXPAY] 6AN ,,RRSP "U : ! TAXPAY]'S SP\SE IS ! ANNUITANT MAY 2 DEDUCT$1 )9 SPECIFI$ LIMITS1 0! TAXPAY] "U SUBSEC;N #ADF7#E.A74 ,9 G5]AL T]MS1 ! MAXIMUM AM.T T A TAXPAY] MAY DEDUCT "U SUBSEC;N #ADF7#E.A7 9 -PUT+ 9COME =A YE> AF #AIIJ IS LIMIT$ 6! LESS] (3 A7 ! TOTAL ( ALL 3TRIBU;NS MADE 0! TAXPAY] AF #AIIJ & )9 #FJ "DS AF ! 5D (! YE> 6! ,,RRSP (! TAXPAY]'S SP\SE1 6! EXT5T T ! 3TRIBU;NS 7 N DEDUCT$ 0! TAXPAY] 9 -PUT+ 9COME =A PREVI\S YE>2 & B7 ! AM.T 0: ! TAXPAY]'S 8,,RRSP DEDUC;N LIMIT0 7SEE P>AGRAPH #I7 =! YE> EXCE$S ! AM.T DEDUCT$ 0! TAXPAY] "U SUBSEC;N #ADF7#E7 9 -PUT+ ! TAXPAY]'S 9COME =! YE>4 ,9 ORD] =! SP\SAL 3TRIBU;N 6BE DEDUCTI# "U SUBSEC;N #ADF7#E.A71 ! TAXPAY]'S SP\SE M/ 2 ! ANNUITANT #DJ ,,IT-#ABD;,R#F F#G (! SP\SAL ,,RRSP AT ! "T ! TAXPAY] MAKES ! 3TRIBU;N4 ,2C (! LIMIT,N 9 7B7 ABV1 ! MAXIMUM AM.T T A TAXPAY] MAY DEDUCT 9 --------------------------------------#H ANY YE> AF #AIIJ = 3TRIBU;NS 6! TAXPAY]'S [N ,,RRSP & 6AN ,,RRSP "U : ! TAXPAY]'S SP\SE IS ! ANNUITANT _C EXCE$ ! TAXPAY]'S 8,,RRSP DEDUC;N LIMIT0 =! YE>4 ,"U P>AGRAPH #FJ7J4#B71 =! #AIHI 6#AIID TAX,N YE>S1 A TAXPAY] MAY 2 5TITL$ 6CLAIM A DEDUC;N =! TRANSF] ( UP 64#F1JJJ ( P]IODIC REGI/]$ P5.N PLAN & DEF]R$ PR(IT %>+ PLAN 9COME 6HIS OR H] SP\SE'S ,,RRSP1 9 ! YE> T ! PAY;TS >E RCVD & 9CLUD$ 9 ! TAXPAY]'S 9COME OR )9 #FJ "DS AF ! 5D ( T YE>4 ,M DETAILS AB ! RULES GOV]N+ ! DEDUCTIBIL;Y ( SP\SAL 3TRIBU;NS1 TRANSF]S "U P>AGRAPH #FJ7J4#B71 &! TAXABIL;Y ( AM.TS PD \ ( SP\SAL ,,RRSP'S >E 4CUSS$ 9 ! CURR5T V].N ( ,,IT-#CJG1 ,SP\SAL ,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS4 #DA ,PAY;T ( ,PREMIUM 9 ,K9D A#H #BD4 ,SUBSEC;N #ADF7#E7 REF]S 6! PAY;T ( PREMIUMS "U ! TAXPAY]'S [N ,,RRSP1 :ILE SUBSEC;N #ADF7#E.A7 REF]S 6A PAY;T "U A SP\SAL ,,RRSP4 ,PAY;T CD 9CLUDE A 3TRIBU;N OR TRANSF] ( PROP]TY O!R ?AN CA% 0! TAXPAY]4 ,S* A 3TRIBU;N OR TRANSF] 3/ITUTES A 4POSI;N ( PROP]TY )9 ! M1N+ (! DEF9I;N ( 84POSI;N0 9 SEC;N #ED4 ,! TAXPAY] IS 3SID]$ 6H 4POS$ (! PROP]TY AT ! "T ! 3TRIBU;N OR TRANSF] (! PROP]TY IS MADE4 ,! PROCE$S ( 4POSI;N &! AM.T ( PREMIUM 3SID]$ 6BE PD >E EQUAL 6! FAIR M>KET VALUE (! PROP]TY TRANSF]R$ OR 3TRIBUT$ 0! TAXPAY] AT ! "T ( XS 4POSI;N4 ,ANY TAXA# CAPITAL GA9 >IS+ ON ! 4POSI;N IS REQUIR$ 6BE 9CLUD$ 9 -PUT+ 9COME4 ,ANY RESULTANT CAPITAL LOSS1 H["E1 IS DEEM$ 6BE NIL = TAX PURPOSES 0SUBP>AGRAPH #DJ7#B77G77;IV74 #DB ,DEDUC;N = ,REFUND ( B#H ,UNDEDUCT$ ,3TRIBU;NS MADE AF #AIIJ #BE4 ,IF ALL OR ANY POR;N (! 3TRIBU;NS MADE 0A TAXPAY] AF #AIIJ 6,,RRSP'S "U : ! TAXPAY] OR ! TAXPAY]'S SP\SE IS ! ANNUITANT H N BE5 DEDUCT$ 9 -PUT+ ! TAXPAY]'S 9COME1 ! TAXPAY] MAY EI KEEP ! UNDEDUCT$ 3TRIBU;NS 9 ! PLAN & CLAIM A DEDUC;N = !M 9 A LAT] YE> 7SEE #E ABV7 OR )DRAW ! UNDEDUCT$ 3TRIBU;NS \ (! PLAN ON A TAX-FREE BASIS 0VIRTUE ( SUBSEC;N #ADF7#H.B74 7,X %D 2 NOT$ T ? BULLET9 USES ! T]M 8UNDEDUCT$ 3TRIBU;NS0 =! PURPOSE (! SUBSEC;N #ADF7#H.B7 DEDUC;N4 ,? T]M DI6]S F ! T]M ASSIGN$ TO 8UNDEDUCT$ ,,RRSP PREMIUMS0 9 SUBSEC;N #BJD.B7#A.B7 =! PURPOSE (! ,"P ,X4#A TAX Z 4CUSS$ 9 #CJ 2L47 #BF4 ,SUBJECT 6! ANTI-AVOID.E RULE M5;N$ 9 #BH 2L1 SUBSEC;N #ADF7#H.B7 PROVIDES AN (FSETT+ DEDUC;N = REFUNDS ( UNDEDUCT$ 3TRIBU;NS F ,,RRSP'S #DC ,,IT-#ABD;,R#F C#H OR ,,RRIF'S T >E 9CLUD$ 9 -PUT+ A TAXPAY]'S 9COME4 ,X DOES N APPLY TO3 A7 A )DRAWAL PRESCRIB$ 0SUBSEC;N #HCJG7#F7 (! ,REGUL,NS1 : IS AN AM.T )DRAWN \ ( AN ,,RRSP 6CR1TE ROOM = PA/ S]VICE B5EFITS "U AN ,,RPP2 B7 = #AIIA & LAT] YE>S1 A )DRAWAL ( ,,RRSP 3TRIBU;NS MADE 0DIRECT TRANSF] F A ,,DPSP 9 A3ORD.E ) SUBSEC;N #ADG7#AI72 C7 = #AIIA1 A )DRAWAL ( ,,RRSP 3TRIBU;NS MADE 0DIRECT TRANSF] F A ,,RPP 9 A3ORD.E ) ANY ( SUBSEC;NS #ADG.C7#A7 & 7#D7 TO 7#G72 D7 = #AIIB & LAT] YE>S1 A )DRAWAL ( ,,RRSP 3TRIBU;NS MADE 0DIRECT TRANSF] F AN ,,RPP &2 E7 = #AIIB & LAT] YE>S1 A )DRAWAL ( ,,RRSP 3TRIBU;NS MADE 0TRANSF] F A PRESCRIB$ PROV9CIAL P5.N PLAN 7IN A3ORD.E ) P>AGRAPH #FJ7;V77 9 CIRCUM/.ES 6: SUBSEC;N #ADF7#BA7 APPLIES4 #DD ,,IT-#ABD;,R#F D#H #BG4 ,6QUALIFY =! (FSETT+ DEDUC;N "U SUBSEC;N #ADF7#H.B71 ! )DRAWAL M/ H BE5 MADE3 A7 9 ! YE> 9 : ! 3TRIBU;NS 7 MADE 0! TAXPAY]2 B7 9 ! YE> 9 : ! ,NOTICE ( ,ASSESS;T OR ,REASSESS;T =! YE> ( 3TRIBU;N 0 S5T 6! TAXPAY]2 OR C7 9 ! YE> IMMLY FOLL[+ EI "O (! YE>S REF]R$ 6IN 7A7 & 7B7 ABV4 ,= EXAMPLE1 IF A TAXPAY] MADE AN ,,RRSP 3TRIBU;N 9 #AIIA B DID N DEDUCT X F 9COME &! ,NOTICE ( ,ASSESS;T = #AIIA 0 S5T 6! TAXPAY] 9 #AIIB1 ! TAXPAY] MAY CLAIM ! (FSETT+ DEDUC;N "U SUBSEC;N #ADF7#H.B7 IF ! TAXPAY] )DRAWS ! UNDEDUCT$ 3TRIBU;N 9 #AIIA1 #AIIB OR #AIIC4 ,=M ,T#GDF1 ,CALCUL,N ( ,DEDUC;N = ,REFUND ( ,,RRSP ,EXCESS ,3TRIBU;NS1 MAY 2 US$ 6DET]M9E ! (FSETT+ DEDUC;N P]MITT$ "U SUBSEC;N #ADF7#H.B74 ,UNDEDUCT$ 3TRIBU;NS MAY 2 )DRAWN \ (! PLAN )\T TAX DEDUCT$ #DE ,,IT-#ABD;,R#F E#H AT S\RCE IF ! TAXPAY] -PLETES ,=M ,T#CJAB;,A1 ,TAX ,DEDUC;N ,WAIV] ON A ,REFUND ( ,UNDEDUCT$ ,,RRSP ,3TRIBU;NS ,MADE 9 #AI--1 & HAS X DULY APPROV$ 0,REV5UE ,CANADA4 ,BO? =MS >E AVAILA# F YR ,REV5UE ,CANADA TAX,N S]VICES (FICE4 #BH4 ,A DEDUC;N "U SUBSEC;N #ADF7#H.B7 =A REFUND ( UNDEDUCT$ 3TRIBU;NS IS N ALL[$ :5 X IS R1SONA# 63SID] T3 A7 ! TAXPAY] DID N R1SONABLY EXPECT 6BE A# 6DEDUCT ! FULL AM.T (! 3TRIBU;NS 9 ! YE> 9 : ! 3TRIBU;NS 7 MADE OR 9 ! IMMLY PREC$+ YE>2 & B7 ! TAXPAY] MADE ALL OR "P (! 3TRIBU;NS )! 9T5T ( LAT] )DRAW+ !M & CLAIM+ A DEDUC;N = !M "U SUBSEC;N #ADF7#H.B74 #BI4 ,": A TAXPAY] HAS DEDUCT$ AN AM.T "U SUBSEC;N #ADF7#H.B7 =A REFUND ( UNDEDUCT$ 3TRIBU;NS1 ! 3TRIBU;NS CORRESPOND+ 6! REFUND >E DEEM$ "U SUBSEC;N #ADF7#H.BA71 = C]TA9 PURPOSES1 #DF ,,IT-#ABD;,R#F #I N 6H BE5 ,,RRSP 3TRIBU;NS MADE 0! TAXPAY] 6AN ,,RRSP4 ,? RULE 5SURES T ONCE A DEDUC;N "U SUBSEC;N #ADF7#H.B7 HAS BE5 CLAIM$ =A YE> =A REFUND ( UNDEDUCT$ 3TRIBU;NS1 ! TAXPAY] _C !N CLAIM A DEDUC;N "U SUBSEC;N #ADF7#E7 OR 7#E.A7 = ANY YE> =! SAME 3TRIBU;NS4 ,SUBSEC;N #ADF7#H.BA7 AL APPLIES =! PURPOSE (! ATTRIBU;N RULES 9 SUBSEC;NS #ADF7#H.C7 & #ADF.C7#E.A71 : REQUIRE C]TA9 PAY;TS MADE 6A TAXPAY]'S SP\SE F ! SP\SE'S ,,RRSP'S OR ,,RRIF'S 6BE 9CLUD$ 9 ! TAXPAY]'S 9COME4 ,"!=E1 ": UNDEDUCT$ 3TRIBU;NS MADE 0! TAXPAY] 6HIS OR H] SP\SE'S ,,RRSP >E LAT] )DRAWN & DEDUCT$ "U SUBSEC;N #ADF7#H.B7 0! TAXPAY]1 ! 3TRIBU;NS >E DEEM$ AF ! )DRAWAL N 6BE 3TRIBU;NS MADE 0! TAXPAY] 6A SP\SAL ,,RRSP =! PURPOSE (! ATTRIBU;N RULES4 #DG ,"P ,X4#A ,TAX ON ,EXCESS A#I ,3TRIBU;NS MADE AF #AIIJ #CJ4 ,IF A TAXPAY] HAS MADE AN EXCESS 3TRIBU;N1 ! TAXPAY] MAY 2 SUBJECT 6,"P ,X4#A TAX =! "T ! EXCESS 3TRIBU;N REMA9$ 9 ! ,,RRSP4 ,= EXCESS 3TRIBU;NS MADE AF #AIIJ1 ! TAX PAYA# 0A TAXPAY] "U SUBSEC;N #BJD.A7#B.A7 = ANY MON? AF ,DECEMB] #AIIJ IS EQUAL 6#A@3P (! TAXPAY]'S 8CUMULATIVE EXCESS AM.T0 AT ! 5D (! MON?4 ,! T]M 8CUMULATIVE EXCESS AM.T0 IS DEF9$ 9 SUBSEC;N #BJD.B7#A.A74 ,G5],Y1 ! CUMULATIVE EXCESS AM.T (A TAXPAY] 9 RESPECT ( ,,RRSP'S AT ANY "T 9 A YE> IS ! AM.T1 IF ANY1 0: A7 ! TAXPAY]'S 8UNDEDUCT$ ,,RRSP PREMIUMS0 AT T "T1 Z DEF9$ 9 SUBSEC;N #BJD.B7#A.B72 .EXCE$S #DH ,,IT-#ABD;,R#F B#I B7 ! TOTAL (3 --! TAXPAY]'S ,,RRSP DEDUC;N LIMIT AT T "T =! YE>1 Z DET]M9$ "U SUBSEC;N #BJD.B7#A.A72 & --IF ! TAXPAY] 0 #AH YE>S ( AGE OR OLD] 9 ! PREVI\S YE>1 4#H1JJJ1 O!RWISE1 NIL4 ,! CALCUL,N (! TAXPAY]'S ,,RRSP DEDUC;N LIMIT 9 7B7 IS ESS5TI,Y ! SAME Z T PROVID$ = DET]M9+ ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE> "U ! DEF9I;N ( 8,,RRSP DEDUC;N LIMIT0 9 SUBSEC;N #ADF7#A7 EXCEPT T ! NET ,,PSPA 9 ? CALCUL,N DEP5DS ON ! "PICUL> "T AT : ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT IS CALCULAT$4 7,! RULES = CALCULAT+ ! ,,RRSP DEDUC;N LIMIT >E 4CUSS$ 9 #H 6#AF ABV4 ,IF ! SPECIAL RULE = P]SONS 3NECT$ ) _! EMPLOY]S APPLIES1 REF] 6#AG 6#BJ ABV47 ,= #AIIB & SUBSEQU5T YE>S1 SUBSEC;N #BJD.B7#A.B7 PROVIDES T ,,RRSP 3TRIBU;NS 0WAY (A TRANSF] F A #DI ,,IT-#ABD;,R#F C#I PRESCRIB$ PROV9CIAL P5.N PLAN1 7I4E4 ! ,SASKAT*EWAN ,P5.N ,PLAN7 9 SITU,NS 6: SUBSEC;N #ADF7#BA7 APPLIES1 >E N 9CLUD$ 9 DET]M9+ AN 9DIVIDUAL'S CUMULATIVE EXCESS AM.T4 ,G5],Y1 SUBSEC;N #ADF7#BA7 ALL[S =! DIRECT TAX-FREE TRANSF] ( LUMP SUM AM.TS F PRESCRIB$ PROV9CIAL P5.N PLANS4 #CA4 ,PLANS T >E REGI/]$ AF #AIIJ >E REQUIR$ 0P>AGRAPH #ADF7#B77C4#A7 6P]MIT ! )DRAWAL ( AM.TS 0A TAXPAY] 6REDUCE ! AM.T ( TAX O!RWISE PAYA# "U ,"P ,X4#A 0! TAXPAY]4 ,9 O!R ^WS1 ,,RRSP'S >E N REQUIR$ 6P]MIT ! )DRAWALS "U SUBSEC;N #ADF7#H.B7 EXCEPT ": TAX "U ,"P ,X4#A IS O!RWISE PAYA#4 ,T IS1 A )DRAWAL C 2 MADE 0A TAXPAY] \ ( 8 OR H] [N ,,RRSP Z WELL Z \ (A SP\SAL ,,RRSP IF ! )DRAWAL REDUCES ! ,"P ,X4#A TAX O!RWISE PAYA# 0! TAXPAY]4 ,PRE-#AIIA PLANS MAY 2 AM5D$ 63TA9 ? PROVI.N4 #CB4 ,S9CE 3TRIBU;NS C 2 MADE ONLY 6AN UNMATUR$ PLAN1 A 8CUMULATIVE #EJ ,,IT-#ABD;,R#F D#I EXCESS AM.T0 C 2 CR1T$ 9 A PLAN ONLY 2F XS MATUR;Y4 ,H["E1 X IS POSSI# 6MAKE A REFUND ( S* AM.TS AF ! PLAN HAS MATUR$ & BE5 ANNUITIZ$4 ,? C 2 D"O 0MAK+ A "PIAL -MUT,N (! ANNU;Y )! COOP],N (! ISSU]4 ,AL? "! IS NO "T LIMIT = PAY+ \ ! CUMULATIVE EXCESS AM.T1 ANY DELAY 9 MAK+ ! PAY;T WD 9CR1SE ! AM.T ( TAX PAYA# "U ,"P ,X4#A & CD JEOP>DIZE ! DEDUC;N AVAILA# "U SUBSEC;N #ADF7#H.B74 ,A DEDUC;N "U SUBSEC;N #ADF7#H.B7 MAY 2 AVAILA# IF C]TA9 3DI;NS >E MET 7SEE #BE 6#BI71 ! -MUT,N PAY;T F ! MATUR$ ,,RRSP IS RCVD )9 A SPECIFI$ "T P]IOD1 &! PAY;T IS F AN ,,RRSP 9 RESPECT (! UNDEDUCT$ 3TRIBU;NS4,IF AN EXCESS 0 3TRIBUT$ 6! PLAN &A RETIRE;T 9COME 0 ACQUIR$ ON MATUR;Y )! TOTAL 3TRIBU;NS 79CLUD+ ! EXCESS71 )\T "PIAL -MUT,N Z NOT$ ABV1 ANY ANNU;Y PAY;TS RCVD 0! B5EFICI>Y WD 2 FULLY TAXA# EV5 ?\< ONLY "P (! 3TRIBU;N 6! PLAN 0 DEDUCTI# 9 -PUT+ 9COME4 #EA ,,IT-#ABD;,R#F E#I #CC4 ,A TAXPAY] 6:OM ! ,"P ,X4#A TAX APPLIES 9 ! YE> IS REQUIR$ 0SUBSEC;N #BJD.C7#A7 6FILE ,=M ,T#A-;,,OVP1 ,9DIVIDUAL ,9COME ,TAX ,RETURN = ,REGI/]$ ,RETIRE;T ,SAV+S ,PLAN ,EXCESS ,3TRIBU;NS1 )9 #IJ "DS AF ! 5D (! YE> & 6PAY ! E/IMAT$ TAX PAYA# AT T "T4 ,=M ,T#A-;,,OVP IS AVAILA# F YR ,REV5UE ,CANADA TAX,N S]VICES (FICE4 #CD4 ,E6ECTIVE ,JUNE #BG1 #AIIJ1 SUBSEC;N #BJD.A7#D7 ALL[S ! ,M9I/] ( ,N,NAL ,REV5UE 6WAIVE ! ,"P ,X4#A TAX ": ! CUMULATIVE EXCESS AM.T >OSE 2C (A R1SONA# ]ROR & R1SONA# /EPS >E 2+ TAK5 6REMOVE ! EXCESS4 ,RECONTRIBU;N 6AN ,,RRSP #CE4 ,E6ECTIVE =! #AIIA & SUBSEQU5T TAX,N YE>S1 SUBSEC;N #ADF7#F.A7 PROVIDES A SPECIAL DEDUC;N = PRESCRIB$ PREMIUMS 7SEE #CF 2L7 PD 6AN ,,RRSP1 O!R ?AN ^? PREMIUMS T >E DESIGNAT$ = PURPOSES ( P>AGRAPHS #FJ7J71 #EB ,,IT-#ABD;,R#F F#I 7J4#A7 OR 7L74 ,? PROVI.N ALL[S A TAXPAY] 6RECONTRIBUTE C]TA9 AM.TS : H BE5 )DRAWN 0! TAXPAY] F AN ,,RRSP 9 ORD] 6CR1TE 5 ROOM = PA/ S]VICE B5EFITS "U AN ,,RPP4 ,! DEDUC;N IS ALL[$ 9 -PUT+ ! TAXPAY]'S 9COME =! "PICUL> YE> 9 : ! ,,RRSP )DRAWAL 0 MADE R ?AN =! YE> 9 : ! AM.T 0 -------------------------------------#AJ RECONTRIBUT$4 ,Z A RESULT1 ! DEDUC;N W (FSET ! )DRAWN AM.T 9CLUD$ 9 9COME4 ,SUBSEC;N #AEB7#F71 : PROVIDES =! REASSESS;T ( TAX PAYA# 0A TAXPAY] =A TAX,N YE> "U C]TA9 CIRCUM/.ES1 GIVES ! TAXPAY] ! "R 6AM5D A RETURN 9 ORD] 6CLAIM ! DEDUC;N4 #CF4 ,SUBSEC;N #HCJG7#G7 (! ,REGUL,NS PRESCRIBES PREMIUMS =! PURPOSE ( SUBSEC;N #ADF7#F.A74 ,A PREMIUM IS PRESCRIB$ =A "PICUL> TAX,N YE> IF3 A7 ! TAXPAY] )DREW AN AM.T 9 ! YE> F AN ,,RRSP & DESIGNAT$ ! AM.T 9 A3ORD.E ) SUBP>AGRAPH #HCJG7#C77A77;II7 = PURPOSES #EC ,,IT-#ABD;,R#F A#AJ (A C]TIFIC,N = PA/ S]VICE B5EFITS "U AN ,,RPP2 B7 X IS LAT] DET]M9$ T ! TAXPAY] )DREW TOO L>GE AN AM.T 2C (A R1SONA# ]ROR1 OR DID N NE$ 6)DRAW ANY AM.T 2C ! ,M9I/] HAS REFUS$ 6REGI/] ! P5.N PLAN "U : ! B5EFITS >E PROVID$2 C7 ! PREMIUM IS PD 0! TAXPAY] )9 #AB MON?S AF X IS DET]M9$ T ! TAXPAY] )DREW TOO L>GE AN AM.T2 D7 ! PREMIUM DOES N EXCE$ ! POR;N (! ,,RRSP )DRAWAL T 0 )DRAWN 9 ]ROR OR 0 )DRAWN UNNECESS>ILY2 E7 ! TAXPAY] FILES )! ,M9I/] ( ,N,NAL ,REV5UE1 ON OR 2F ! TAXPAY]'S TAX- FIL+ D1DL9E =! YE> 9 : ! PREMIUM 0 PD 7G5],Y ,APRIL ?IRTIE? (! FOLL[+ YE>71 A WRITT5 NOTICE 9 : ! PREMIUM IS DESIGNAT$ Z A RECONTRIBU;N (! )DRAWN AM.T2 & F7 NO O!R AM.T HAS BE5 DESIGNAT$ Z A RECONTRIBU;N (! )DRAWN AM.T4 #ED ,BANKRUPT ,TAXPAY]S B#AJ #CG4 ,2G9N+ 9 #AIIA1 SPECIAL RULES APPLY 65SURE T ! ,,RRSP DEDUC;N LIMIT & UNUS$ ,,RRSP DEDUC;N ROOM (A BANKRUPT TAXPAY] &! ,,RRSP EXCESS 3TRIBU;N TAX PAYA# 0S* A TAXPAY] W 2 DET]M9$ Z IF ! TAXPAY] _H N 2COME BANKRUPT4 ,F/1 ! RULE 9 P>AGRAPH #ABH7#B77D71 : DIVIDES ! CAL5D> YE> 9 : ! TAXPAY] 2COMES BANKRUPT 96TWO TAX,N YE>S1 DOES N APPLY = PURPOSES (! DEF9I;NS 9 SUBSEC;N #ADF7#A7 RELAT+ 6,,RRSP'S &! RULES 9 ,"P ,X4#A (! ,ACT REG>D+ ! CALCUL,N ( TAX ON EXCESS 3TRIBU;NS 6,,RRSP'S4 ,SECOND1 = PURPOSES ( -PUT+ ! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM &! ,"P ,X4#A TAX1 ": A BANKRUPT TAXPAY] HAS TWO TAX,N YE>S 9 A CAL5D> YE>1 ! AM.TS DEDUCT$ 0! TAXPAY] = EA* (! TWO YE>S = 3TRIBU;NS 6,,RRSP'S W 2 TR1T$ Z IF !Y 7 DEDUCT$ 9 -PUT+ ! TAXPAY]'S 9COME =! CAL5D> YE>4 ,F9,Y1 ! MAXIMUM DEDUC;NS T MAY 2 CLAIM$ 0A BANKRUPT TAXPAY] "U SUBSEC;NS #EE ,,IT-#ABD;,R#F C#AJ #ADF7#E7 & 7#E.A7 = ,,RRSP 3TRIBU;NS =! SECOND TAX,N YE> 7"D ( BANKRUPTCY 6! 5D (! CAL5D> YE>7 5D+ 9 ! CAL5D> YE> ( BANKRUPTCY >E REDUC$ 0! AM.T DEDUCT$ 0! TAXPAY] =! F/ TAX,N YE> 7,JANU>Y #A 6! "D 2F ! BANKRUPTCY7 9 T CAL5D> YE>4 -------------------------------------#AA ,GLOSS>Y ,E>N$ 9COME3 ,! RULES = CALCULAT+ A TAXPAY]'S E>N$ 9COME = ,,RRSP PURPOSES >E SET \ "U ! DEF9I;N ( 8E>N$ 9COME0 9 SUBSEC;N #ADF7#A74 ,A TAXPAY]'S ,,RRSP DEDUC;N LIMIT =A YE> IS BAS$ ON ! TAXPAY]'S E>N$ 9COME =! IMMLY PREC$+ YE>4 ,C]TA9 RULES A6ECT+ ! CALCUL,N ( E>N$ 9COME = NON-RESID5TS & "P-YE> RESID5TS >E 4CUSS$ 9 #BA ABV4 ,=M ,T#AJBC1 ,,RRSP ,DEDUC;N ,LIMIT-- ,CALCUL,N ( ,E>N$ ,9COME = #AI--1 MAY 2 US$ 6CALCULATE E>N$ 9COME4 ,? =M IS 9CLUD$ 9 ! 9COME TAX GUIDE CALL$ ,,RRSP'S & ,O!R ,REGI/]$ ,PLANS = #EF ,,IT-#ABD;,R#F A#AA ,RETIRE;T & IS AL AVAILA# F YR ,REV5UE ,CANADA TAX,N S]VICES (FICE4 ,NET PA/ S]VICE P5.N ADJU/;T 7NET ,,PSPA73 ,! T]M 8NET PA/ S]VICE P5.N ADJU/;T0 IS DEF9$ 9 SUBSEC;N #ADF7#A74 ,? AM.T1 : C 2 POSITIVE OR NEGATIVE1 IS ! TOTAL (! TAXPAY]'S ,,PSPA'S =! YE> M9US ! TAXPAY]'S ,,PSPA )DRAWALS T 7 DESIGNAT$ = ,,PSPA'S C]TIFI$ =! YE>4 ,A POSITIVE NET ,,PSPA =A YE> REDUCES ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE> &! TAXPAY]'S UNUS$ ,,RRSP DEDUC;N ROOM AT ! 5D (! YE>4 ,SEC;NS #HCJC & #HCJD (! ,REGUL,NS 3TA9 ! RULES = DET]M9+ ! ,,PSPA (A TAXPAY] =A YE> 9 RESPECT ( AN EMPLOY]4 ,A ,,PSPA IS1 9 G5]AL1 ! TOTAL (! A4I;NAL P5.N CR$ITS T WD H BE5 DET]M9$ = PO/-#AIHI PA/ S]VICE IF ! ,,RPP _H PROVID$ =! UPGRAD$ B5EFITS OR A4I;NAL P]IOD ( P5.NA# S]VICE AT ! "T EA* P5.N CR$IT 0 F/ REQUIR$ 6BE DET]M9$1 M9US C]TA9 AM.TS TRANSF]R$ 6! ,,RPP 6FUND ^? B5EFITS4 ,! AM.T (A TAXPAY]'S ,,PSPA )DRAWALS IS DEF9$ 9 #EG ,,IT-#ABD;,R#F B#AA SUBSEC;N #HCJG7#E7 & C G5],Y 2 DESCRIB$ Z ! TOTAL ( ALL AM.TS )DRAWN F AN ,,RRSP 6CR1TE A4I;NAL ROOM 6A3OMMODATE A ,,PSPA = PA/ S]VICE B5EFITS 9 A DEF9$ B5EFIT ,,RPP4 ,! ,PLAN ,ADM9I/RATORS ,PA/ ,S]VICE ,P5.N ,ADJU/;T ,GUIDE DESCRIBES ,,PSPA'S & ,,PSPA )DRAWALS 9 GRT] DETAIL4 ,NOTE3 ,! DEF9I;N ( 8NET PA/ S]VICE P5.N ADJU/;T0 9 SUBSEC;N #ADF7#A7 9CLUDES 9 A TAXPAY]'S NET ,,PSPA ANY AM.TS PRESCRIB$ 0NEW SEC;N #HCJH.D (! ,REGUL,NS : 0 9CLUD$ 9 ! DRAFT AM5D;TS 6! ,REGUL,NS REL1S$ ON ,DECEMB] #AH1 #AIIB4 ,? PROPOS$ NEW SEC;N A6ECTS TAXPAY]S :O A3RUE B5EFITS "U 8GOV]N;T- SPONSOR$ RETIRE;T >RANGE;TS40 ,IF NEW SEC;N #HCJH.D (! ,REGUL,NS IS PROMULGAT$ Z PROPOS$1 X W APPLY 6#AIID & SUBSEQU5T TAX,N YE>S4 #EH ,,IT-#ABD;,R#F C#AA ,9 A4I;N1 ! DRAFT ,REGUL,NS 9CLUDE A PROPOSAL 6AM5D ! DEF9I;N ( ,,PSPA 9 SUBSEC;N #HCJC7#A7 69CLUDE A4I;NAL AM.TS 9 ! ,,PSPA'S ( C]TA9 9DIVIDUALS :O "PICIPATE 9 =EIGN PLANS OR SPECIFI$ RETIRE;T >RANGE;TS4 ,IF PROMULGAT$ Z PROPOS$1 ? AM5D;T 6SUBSEC;N #HCJC7#A7 (! ,REGUL,NS W APPLY 6! DET]M9,N ( ,,PSPA'S = ,,FP'S = #AIIC & SUBSEQU5T TAX,N YE>S &= ,,SRA'S = #AIID & SUBSEQU5T TAX,N YE>S4 ,PROPOS$ SUBSEC;NS #HCJH.D7#A71 #HCJH.A7#A7 & #HCJH.C7#A7 (! DRAFT ,REGUL,NS 3TA9 ! DEF9I;NS ( 8GOV]N;T-SPONSOR$ RETIRE;T >RANGE;T10 8=EIGN PLAN10 & 8SPECIFI$ RETIRE;T >RANGE;T10 RESPECTIVELY4 ,P5.N ADJU/;T 7,,PA73 ,A TAXPAY]'S ,,RRSP DEDUC;N LIMIT =A YE> IS REDUC$ 0! TAXPAY]'S TOTAL ,,PA'S = ALL EMPLOY]S =! IMMLY PREC$+ YE>4 ,! ,,PA (A TAXPAY] =A YE> 9 RESPECT ( AN EMPLOY] IS DEF9$ 0SUBSEC;N #HCJA7#A7 (! ,REGUL,NS 6M1N ! TOTAL (! TAXPAY]'S 8P5.N CR$ITS0 #EI ,,IT-#ABD;,R#F D#AA =! YE> 9 RESPECT (! EMPLOY] "U ,,DPSP'S & "U B5EFIT PROVI.NS ( ,,RPP'S4 ,A P5.N CR$IT IS A M1SURE (! B5EFITS A3RU+ 6! TAXPAY] "U A ,,DPSP OR "U A B5EFIT PROVI.N ( AN ,,RPP4 ,"U SUBSEC;N #HCJA7#B71 ! P5.N CR$IT "U A ,,DPSP IS G5],Y ! TOTAL ( 3TRIBU;NS MADE 6! PLAN 0! EMPLOY] 9 ! YE> =! EMPLOYEE PLUS =FEITURES REALLOCAT$ 6! EMPLOYEE4 ,=A M"OY PUR*ASE ,,RPP1 ! P5.N CR$IT IS DEF9$ 0SUBSEC;N #HCJA7#D7 & IS NORM,Y ! TOTAL (! EMPLOY]'S & EMPLOYEE'S 3TRIBU;NS MADE 9 ! YE> PLUS =FEITURES REALLOCAT$ 6! EMPLOYEE4 ,9 ! CASE (A DEF9$ B5EFIT ,,RPP1 ! P5.N CR$IT IS DEF9$ 9 SUBSEC;N #HCJA7#F7 & IS G5],Y DET]M9$ DIRECTLY F ! PLAN B5EFIT RATE &1 ": RELEVANT1 ! EMPLOYEE'S P5.NA# E>N+S 9 ! YE>4 ,SUBSEC;NS #HCJA7#C71 7#H7 & 7#I7 3TA9 SPECIAL RULES = DET]M9+ P5.N CR$ITS :5 A TAXPAY] T]M9ATES EMPLOY;T &! TAXPAY] IS 5TITL$ ONLY 6A RETURN ( EMPLOYEE 3TRIBU;NS PLUS 9T]E/4 #FJ ,,IT-#ABD;,R#F E#AA ,Z "P (! ,T#D REPORT+ PROCESS1 EMPLOY]S :O SPONSOR ,,RPP'S OR ,,DPSP'S >E RESPONSI# = REPORT+ EA* PLAN MEMB]'S ,,PA'S4 ,! 9=M,N RETURN REPORT+ ! ,,PA =A "PICUL> YE> M/ 2 FIL$ 0! 5D ( ,FEBRU>Y (! FOLL[+ YE>4 ,9 C]TA9 CIRCUM/.ES 9VOLV+ MULTI-EMPLOY] PLANS1 ! PLAN ADM9I/RATOR M/ REPORT ! ,,PA ON ,T#D;,A SLIPS4 ,G5],Y1 A P5.N PLAN IS A 8MULTI-EMPLOY] PLAN10 Z DEF9$ 9 SUBSEC;N #HEJJ7#A7 (! ,REGUL,NS1 IF AT ! 2G9N+ (! YE> 7OR AT ! "T ! PLAN IS E/ABLI%$1 IF LAT]7 X IS R1SONA# 6EXPECT T NO M ?AN #IE@3P (! ACTIVE MEMB]S AT ANY "T 9 ! YE> W 2 EMPLOY$ 0A S+LE EMPLOY] OR 0A GR\P ( RELAT$ EMPLOY]S4 ,! ,EMPLOY]S ,P5.N ,ADJU/;T ,CALCUL,N ,GUIDE 3TA9S M 9=M,N ON ,,PA'S4 ,NOTE3 ,! DRAFT ,REGUL,NS REL1S$ 0! ,M9I/] ( ,F9.E ON ,DECEMB] #AH1 #AIIB1 9CLUDE A PROPOSAL 6AM5D SUBSEC;N #HCJA7#A74 ,X IS PROPOS$ T ! DEF9I;N ( ,,PA 2 #FA ,,IT-#ABD;,R#F F#AA AM5D$ 69CLUDE A4I;NAL AM.TS 9 ! ,,PA'S ( C]TA9 9DIVIDUALS :O "PICIPATE 9 =EIGN PLANS OR SPECIFI$ RETIRE;T >RANGE;TS4 ,IF PROMULGAT$ Z PROPOS$1 SUBSEC;N #HCJA7#A7 (! DRAFT ,REGUL,NS W APPLY 6! DET]M9,N ( ,,PA'S = ,,FP'S = #AIIB & SUBSEQU5T TAX,N YE>S &= ,,SRA'S = #AIIC & SUBSEQU5T TAX,N YE>S4 ,PROPOS$ SUBSEC;NS #HCJH.A7#A7 & #HCJH.C7#A7 3TA9 ! DEF9I;NS ( 8=EIGN PLAN0 & 8SPECIFI$ RETIRE;T >RANGE;T10 RESPECTIVELY4 -------------------------------------#AB ,PREMIUM3 ,A 8PREMIUM0 IS DEF9$ 9 SUBSEC;N #ADF7#A7 Z ANY AM.T PD OR PAYA# "U AN ,,RRSP3 --Z 3SID],N =A 3TRACT 7Z SPECIFI$ 9 P>AGRAPH 7A7 (! DEF9I;N ( 8RETIRE;T SAV+S PLAN0 9 SUBSEC;N #ADF7#A77 =A RETIRE;T 9COME :5 ! PLAN MATURES2 OR --Z A 3TRIBU;N OR DEPOSIT 7Z SPECIFI$ 9 P>AGRAPH 7B7 (! DEF9I;N #FB ,,IT-#ABD;,R#F A#AB ( 8RETIRE;T SAV+S PLAN0 9 SUBSEC;N #ADF7#A774 ,AF #AIIA1 EXCEPT = PURPOSES ( P>AGRAPH 7B7 (! DEF9I;N 8B5EFIT0 9 SUBSEC;N #ADF7#A7 & P>AGRAPH #ADF7#B77B4#C71 A PREMIUM DOES N 9CLUDE A PAY;T DESIGNAT$ "U SUBSEC;N #ADF.JA7#C7 OR A REPAY;T DESCRIB$ 9 SUBP>AGRAPH 7B77;II7 (! DEF9I;N ( 8EXCLUD$ )DRAWAL0 9 SUBSEC;N #ADF.JA7#A74 7,AM.TS DESIGNAT$ "U SUBSEC;N #ADF.JA7#C7 >E REPAY;TS ( ELIGI# AM.TS RCVD PURSUANT 6! ,HOME ,BUY]S' ,PLAN4 ,REPAY;TS DESCRIB$ 9 ! DEF9I;N ( 8EXCLUD$ )DRAWAL0 >E ESS5TI,Y REPAY;TS ( AM.TS T _H BE5 EXPECT$ 62COME ELIGI# AM.TS :5 )DRAWN47 ,,RRSP DEDUC;N LIMIT3 ,AF #AIIJ1 ! MAXIMUM AM.T A TAXPAY] MAY DEDUCT = ,,RRSP 3TRIBU;NS "U SUBSEC;N #ADF7#E7 IS LIMIT$ 6! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE>4 ,SEE P>AGRAPH #H ( ? BULLET9 =! DEF9I;N ( 8,,RRSP DEDUC;N LIMIT40 #FC ,,IT-#ABD;,R#F B#AB ,,RRSP DOLL> LIMIT3 ,! ,,RRSP DOLL> LIMIT =A CAL5D> YE> IS DEF9$ "U 8,,RRSP DOLL> LIMIT0 9 SUBSEC;N #ADF7#A7 Z ! M"OY PUR*ASE LIMIT =! IMMLY PREC$+ CAL5D> YE>4 ,! T]M 8M"OY PUR*ASE LIMIT0 =A CAL5D> YE> IS DEF9$ 9 SUBSEC;N #ADG.A7#A74 ,! ,,RRSP DOLL> LIMIT =A CAL5D> YE> IS US$ 6DET]M9E A TAXPAY]'S ,,RRSP DEDUC;N LIMIT = T "PICUL> YE> 7SEE #H ABV74 ,! ,,RRSP DOLL> LIMIT =! YE>S #AIIA 6#AIIF 9CLUSIVE IS Z FOLL[S3 ,YE> ,,RRSP DOLL> LIMIT #AIIA 4#AA1EJJ #AIIB 4#AB1EJJ #AIIC 4#AB1EJJ #AIID 4#AC1EJJ #AIIE 4#AD1EJJ #AIIF 4#AE1EJJ ,! ,,RRSP DOLL> LIMIT = YE>S AF #AIIF W 2 4#AE1EJJ ADJU/$ 6TAKE 96A3.T 9CR1SES 9 ! AV]AGE ,CANADIAN WAGE4 #FD ,,IT-#ABD;,R#F C#AB ,SP\SE3 ,2F #AIIC1 =! PURPOSE ( MAK+ 3TRIBU;NS T >E DEDUCTI# "U SUBSEC;N #ADF7#E.A71 ! SP\SE (A TAXPAY] 0 A P]SON 6:OM ! TAXPAY] 0 LEG,Y M>RI$4 ,AF #AIIB1 ! M1N+ (! T]M 8SP\SE0 HAS BE5 EXT5D$ 0SUBSEC;N #BEB7#D7 69CLUDE ! P]SON (! OPPOSITE SEX :O IS COHABIT+ )! TAXPAY] AT ! "T 9 A 3JUGAL REL,N%IP &3 --HAS S COHABIT$ )! TAXPAY] "?\T A TWELVE-MON? P]IOD 5D+ 2F T "T2 OR --IS A P>5T (A * ( :OM ! TAXPAY] IS A P>5T4 ,IF ! TAXPAY] &! P]SON H COHABIT$ 9 A 3JUGAL REL,N%IP1 AT ANY LAT] "T1 !Y >E 3SID]$ 6BE S COHABIT+ EXCEPT = ANY P]IOD ( SEP>,N ( #IJ "DS OR M 2C (A BR1KD[N ( _! 3JUGAL REL,N%IP4 ,9 A4I;N1 = #AIIC & SUBSEQU5T YE>S1 IF TWO 9DIVIDUALS >E 3SID]$ 6BE SP\SES 2C !Y >E P>5TS (! SAME *1 !Y W 2 S 3SID]$ ONLY IF !Y >E ! NATURAL OR ADOPTIVE P>5TS ( T *4 #FE ,,IT-#ABD;,R#F D#AB ,IF Y H ANY -;TS REG>D+ ! MATT]S 4CUSS$ 9 ? BULLET91 PL1SE S5D !M TO3 ,DIRECTOR1 ,TE*NICAL ,PUBLIC,NS ,DIVI.N ,POLICY & ,LEGISL,N ,BRAN* ,REV5UE ,CANADA #HGE ,H]ON ,ROAD ,OTTAWA ,,ON ,K#A;,A #J;,L#H -------------------------------------#AC ,EXPLAN,N ( ,*ANGES = ,9T]PRET,N ,BULLET9 ,,IT-#ABD;,R#F ,3TRIBU;NS 6,REGI/]$ ,RETIRE;T ,SAV+S ,PLANS ,9TRODUC;N ,! PURPOSE (! ,EXPLAN,N ( ,*ANGES IS 6GIVE ! R1SONS =! REVI.NS 6AN 9T]PRET,N BULLET94 ,X \TL9ES REVI.NS T WE H MADE Z A RESULT ( *ANGES 6! LAW1 Z WELL Z *ANGES REFLECT+ NEW OR REVIS$ ,DE"P;TAL 9T]PRET,NS4 #FF ,OV]VIEW A#AC ,9T]PRET,N BULLET9 ,,IT-#ABD;,R#F D1LS )! DEDUCTIBIL;Y ( 3TRIBU;NS 6REGI/]$ RETIRE;T SAV+S PLANS 7,,RRSP'S74 ,! REVI.N TO ,,IT-#ABD;,R#E 0 "UTAK5 6REFLECT AM5D;TS 6! ,9COME ,TAX ,ACT 0,S4,C4 #AIIJ1 C4 #CE 7=M] ,BILL ;,C- #EB1 : 3TA9$ ! ,P5.N ,RE=M AM5D;TS74 ,,IT-#ABD;,R#E 0 AL REVIS$ 6REFLECT A NUMB] ( AM5D;TS 6! ,9COME ,TAX ,ACT 0,S4,C4 #AIHF1 C4 #EE 7=M] ,BILL ;,C- #BC71 0,S4,C4 #AIHF1 C4 #F 7=M] ,BILL ;,C-#HD71 0,S4,C4 #AIIA1 C4 #DI 7=M] ,BILL ;,C-#AH71 0,S4,C4 #AIIC1 C4 #BD 7=M] ,BILL ;,C-#IB7 & 0,S4,C4 #AIID1 C4 #BA 7=M] ,BILL ;,C-#BG74 ,! -;TS 9 ? BULLET9 >E A6ECT$ 0S"EAL (! PROPOS$ AM5D;TS 3TA9$ 9 ! ,DECEMB] #AH1 #AIIB DRAFT ,REGUL,NS4 ,^! PROPOS$ AM5D;TS >E REFLECT$ 9 NOTES AT ! 5D ( P>AGRAPHS #E1 #G1 #H1 #BF & FOLL[+ ! EXPLAN,NS ( 8NET PA/ S]VICE P5.N ADJU/;T10 & 8P5.N ADJU/;T0 9 ! ,GLOSS>Y4 ,9 A4I;N1 A PROPOS$ AM5D;T 9 ,BILL #FG ,,IT-#ABD;,R#F B#AC ;,C-#EI1 RELAT+ 6! ,HOME ,BUY]S' ,PLAN1 IS REFLECT$ 9 A NOTE AT ! 5D ( P>AGRAPH #G4 ,! 3T5TS ( ? BULLET9 >E N A6ECT$ 0! AM5D;TS 6! ,9COME ,TAX ,ACT 0,S4,C4 #AIID1 C4 #H 7=M] ,BILL ;,C-#I7 OR ! ,DRAFT ,AM5D;TS 6! ,9COME ,TAX ,REGUL,NS REL1S$ ON ,APRIL #E1 #AIID4 ,LEGISLATIVE & ,O!R ,*ANGES ,NEW P>AGRAPH #A EXPLA9S1 9 G5]AL T]MS1 ! AM5D;TS MADE 0,BILL ;,C-#EB 6SUBSEC;N #ADF7#E74 ,? P>AGRAPH AL 9CLUDES AN EXAMPLE 6ILLU/RATE H[ ! ,,RRSP DEDUC;N LIMIT IS CALCULAT$4 ,NEW P>AGRAPHS #B & #C PROVIDE G5]AL -;TS ON :O MAY MAKE 3TRIBU;NS 6AN ,,RRSP & :5 S* 3TRIBU;NS MAY 2 MADE4 ,P>AGRAPH #D 7REPLACES =M] P>AGRAPH #B7 0 REVIS$ 6REFLECT A ,BILL ;,C-#AH AM5D;T 6SUBSEC;N #AH7#AA74 ,? AM5D;T CL>IFIES T NO DEDUC;N IS ALL[$ = 9T]E/ EXP5SE 9CURR$ 6PUR*ASE 9COME- #FH ,,IT-#ABD;,R#F C#AC PRODUC+ PROP]TY AF ! PROP]TY IS TRANSF]R$ 6AN ,,RRSP4 ,? P>AGRAPH 0 AL REVIS$ 6CL>IFY T ONLY R1SONA# ADM9I/R,N FEES PD 0AN 9DIVIDUAL 6! TRU/EE ( 8 OR H] [N ,,RRSP >E DEDUCTI# 0! 9DIVIDUAL4 ,9 A4I;N1 -;TS RELAT+ 6! DEDUC;N "U P>AGRAPH #BJ7#A77BB7 = 9VE/;T C\NSELL+ FEES 7 A4$4 ,F9,Y1 P>AGRAPH #D REFLECTS A ,BILL ;,C-#IB AM5D;T 6P>AGRAPH #AH7#AA77B74 ,! E6ECT (! AM5D;T IS 6PRECLUDE A DEDUC;N = 9T]E/ ON M"OY BORR[$ 6MAKE REPAY;TS ( AM.TS )DRAWN "U ! ,HOME ,BUY]S' ,PLAN4 ,NEW P>AGRAPHS #E 6#G 7REPLACE =M] P>AGRAPHS #C 6#E & #H7 EXPLA9 9 DETAIL ! ,BILL ;,C-#EB AM5D;TS 6SUBSEC;N #ADF7#E74 ,P>AGRAPH #E AL \TL9ES ! ,BILL ;,C-#BG AM5D;TS 6SUBSEC;N #ADF7#E74 ,=M] P>AGRAPHS #F & #G1 : 4CUSS$ H[ AN 9DIVIDUAL'S ,,RRSP LIMIT 0 A6ECT$ 03TRIBU;NS MADE 0! 9DIVIDUAL 6HIS OR H] REGI/]$ P5.N PLAN 7,,RPP71 7 DELET$4 ,AF #AIIJ1 AN 9DIVIDUAL'S ,,RRSP DEDUC;N LIMIT =A YE> IS REDUC$ 0! #FI ,,IT-#ABD;,R#F D#AC 9DIVIDUAL'S P5.N ADJU/;TS 7,,PA'S7 =! IMMLY PREC$+ YE>4 ,NEW P>AGRAPH #G 7REPLACES =M] P>AGRAPH #A7 LI/S ! V>I\S PROVI.NS 9 ! ,ACT : ALL[ A DEDUC;N =A TRANSF] ( P5.N & SIMIL> PAY;TS 6,,RRSP'S4 ,"O S* PROVI.N IS SEC;N #FJ.JA1 : 0 A4$ 0,BILL ;,C-#AH4 ,P>AGRAPH #G AL REF]S 6P>AGRAPH #FJ7L77V7 : 0 AM5D$ 0,BILL ;,C-#AH 6P]MIT A ROLLOV] ( PAY;TS F A PRESCRIB$ PROV9CIAL P5.N PLAN RCVD Z A RESULT (! D1? (! TAXPAY]'S SP\SE4 ,NEW P>AGRAPH #G AL EXPLA9S A ,BILL ;,C-#BG AM5D;T 6P>AGRAPH #FJ7L7 S T C]TA9 ,,RRSP PREMIUMS W N 2 DEDUCTI# "U SUBSEC;N #ADF7#E7 9 -PUT+ 9COME =! YE>4 ,^! 9CLUDE ALL OR ANY POR;NS ( PREMIUMS T 7 DESIGNAT$ Z A TRANSF] "U P>AGRAPH #FJ7L74 ,A NOTE AT ! 5D ( P>AGRAPH#G REFLECTS A PROPOS$ AM5D;T 6P>AGRAPH #ADF7#E77A71 3TA9$ 9 ,BILL ;,C-#EI1 : RELATES 6! ,HOME ,BUY]S' ,PLAN4 #GJ ,,IT-#ABD;,R#F E#AC ,NEW P>AGRAPHS #H & #I EXPLA9 ! ,P5.N ,RE=M RULES = CALCULAT+ AN 9DIVIDUAL'S ,,RRSP DEDUC;N LIMIT =A YE>4 ,! NOTE AT ! 5D ( NEW P>AGRAPH #H EXPLA9S "S (! PROPOS$ *ANGES 9 ! ,DECEMB] #AH1 #AIIB DRAFT ,REGUL,NS4 ,^! PROPOS$ *ANGES1 : RELATE TO 8GOV]N;T- SPONSOR$ RETIRE;T >RANGE;TS10 8=EIGN PLANS10 & 8SPECIFI$ RETIRE;T >RANGE;TS10 MAY A6ECT AN 9DIVIDUAL'S ,,PA OR ,,PSPA1 &! CALCUL,N ( AN 9DIVIDUAL'S ,,RRSP DEDUC;N LIMIT =A YE>4 ,NEW P>AGRAPHS #AJ 6#AF 4CUSS 9 DETAIL ! C>RY=W>D -PON5T 9 ! CALCUL,N (! ,,RRSP DEDUC;N LIMIT4 ,! T]M 8UNUS$ ,,RRSP DEDUC;N ROOM0 IS DEF9$ 9 SUBSEC;N #ADF7#A71 : 0 A4$ 0,BILL ;,C-#EB4 ,^! P>AGRAPHS EXPLA9 T ": ! AM.T A TAXPAY] DEDUCTS = ,,RRSP 3TRIBU;NS =A YE> IS LESS ?AN ! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! YE>1 ! UNUS$ ,,RRSP DEDUC;N ROOM IS G5],Y C>RI$ =W>D & =MS "P (! TAXPAY]'S ,,RRSP DEDUC;N LIMIT =! FOLL[+ #GA ,,IT-#ABD;,R#F #AD YE>4 ,! EXAMPLE 9 P>AGRAPH #AF REFLECTS ! AM5D;T 6! ,,RRSP DOLL> LIMIT "U ,BILL ;,C-#IB4 ,=M] P>AGRAPHS #AA 6#AF 7 DELET$ 2C !Y D1LT )! TRANSF] (A TAXA# CAPITAL GA9 F ! 4POSI;N (A QUALIFI$ F>M PROP]TY 6AN ,,RRSP "U SUBSEC;NS #ADF7#E.C71 7#E.D7 & 7#E.E7 Z A RESULT (! 9TRODUC;N (! CAPITAL GA9S DEDUC;N4 ,NEW P>AGRAPHS #AG 6#BJ \TL9E ! PROVI.NS ( NEW SEC;N #HEJJ7#C7 (! ,REGUL,NS4 ,^! P>AGRAPHS EXPLA9 ! SPECIAL RULE = C]TA9 9DIVIDUALS :O >E 83NECT$0 ) _! EMPLOY]S AF #AIHI & :O1 AF #AIIJ1 2CAME MEMB]S (! EMPLOY]'S ,,RPP OR RECOMM;ED 6A3RUE LIFE"T RETIRE;T B5EFITS "U ! ,,RPP4 ,=M] P>AGRAPHS #AG 6#BB D1LT )! TRANSF] ( P5.N & SIMIL> PAY;TS 6,,RRSP'S &! TRANSF] ( FUNDS 2T PLANS4 ,^! P>AGRAPHS 7 DELET$ Z ! SUBJECT MATT] W 2 COV]$ 9 A SEP>ATE BULLET94 ,P>AGRAPHS #BA & #BB 7REPLACE =M] P>AGRAPH #I7 D1L )! E6ECT (! ,BILL #GB ,,IT-#ABD;,R#F A#AD ;,C-#EB AM5D;T 6! DEF9I;N ( 8E>N$ 9COME0 ON "P-YE> RESID5TS & NON-RESID5TS4 ,P>AGRAPH #BC 7REPLACES =M] P>AGRAPH #AJ7 0 REVIS$ 6REFLECT ! ,BILL ;,C-#EB AM5D;TS D1L+ ) SP\SAL ,,RRSP 3TRIBU;NS4 ,P>AGRAPH #BD 7REPLACES =M] P>AGRAPH #BC71 D1LS )! PAY;T ( PREMIUMS 9 K9D4 ,=M] P>AGRAPH #BH1 : EXPLA9$ ! TAX IMPLIC,NS >IS+ F EXCESS 3TRIBU;NS MADE 2F #AIIA1 0 DELET$ & REPLAC$ ) NEW P>AGRAPHS #BE1 #BF1 #BG & #BH4 ,^! NEW P>AGRAPHS REFLECT ! ,BILL ;,C-#EB AM5D;TS 6! DEDUC;N ALL[$ "U SUBSEC;N #ADF7#H.B7 =A REFUND ( UNDEDUCT$ 3TRIBU;NS4 ,! AM5D;TS1 : 9CLUDE ! A4I;N ( AN ANTI-AVOID.E RULE 6D5Y ! DEDUC;N 9 C]TA9 CIRCUM/.ES1 APPLY 63TRIBU;NS MADE AF #AIIJ4 ,NEW P>AGRAPH #BF AL REFLECTS A ,BILL ;,C-#IB AM5D;T : PROVIDES T SUBSEC;N #ADF7#H.B7 W N APPLY 6C]TA9 )DRAWALS ( ,,RRSP 3TRIBU;NS MADE 0DIRECT TRANSF] F AN ,,RPP 6AN ,,RRSP OR A REGI/]$ RETIRE;T 9COME FUND 7,,RRIF74 ,P>AGRAPH #BF REFLECTS A ,BILL #GC ,,IT-#ABD;,R#F B#AD ;,C-#BG AM5D;T 6SUBSEC;N #ADF7#H.B71 : 5SURES T ? SUBSEC;N W N APPLY 6A )DRAWAL ( ,,RRSP 3TRIBU;NS MADE 0TRANSF] F A PROV9CIAL PLAN PRESCRIB$ =! PURPOSES ( P>AGRAPH #FJ7;V7 9 CIRCUM/.ES ": SUBSEC;N #ADF7#BA7 APPLIES4 ,=M] P>AGRAPHS #BI & #CJ1 : 3TA9$ HIE NO L;G] RELEVANT4 ,NEW P>AGRAPH #BI 4CUSSES ! PROVI.NS ( SUBSEC;N #ADF7#H.BA7 : 0 A4$ 0,BILL ;,C- #EB4 ,"U SUBSEC;N #ADF7#H.BA71 3TRIBU;NS CORRESPOND+ 6A REFUND ( UNDEDUCT$ 3TRIBU;NS "U SUBSEC;N #ADF7#H.B7 >E G5],Y DEEM$ N 6BE 3TRIBU;NS4 ,NEW P>AGRAPH #CJ 4CUSSES ! -PUT,N (! ,"P ,X4#A P5ALTY ON EXCESS 3TRIBU;NS MADE AF #AIIJ4 ,P>AGRAPH #CJ REPLACES ! -;TS 9 =M] P>AGRAPHS #BE & #BF D1L+ )! CALCUL,N (! ,"P ,X4#A P5ALTY ON EXCESS 3TRIBU;NS MADE 2F #AIIA4 ,P>AGRAPH #CJ REFLECTS SUBSEC;N #BJD.B7#A.A7 : 0 A4$ 0,BILL ;,C-#EB 6DEF9E ! M1N+ (! #GD ,,IT-#ABD;,R#F C#AD T]M 8CUMULATIVE EXCESS AM.T0 9 RESPECT ( ,,RRSP'S4 ,P>AGRAPH #CJ AL \TL9ES ! ,BILL ;,C-#BG AM5D;T 6SUBSEC;N #BJD.B7#A.B7 6EXCLUDE F ! CALCUL,N ( 8CUMULATIVE EXCESS AM.T0 ANY ,,RRSP 3TRIBU;NS F A PRESCRIB$ PROV9CIAL PLAN 7I4E4 ,SASKAT*EWAN ,P5.N ,PLAN7 9 SITU,NS 6: SUBSEC;N #ADF7#BA7 APPLIES4 ,P>AGRAPH #CA 7REPLACES =M] P>AGRAPH #BD7 HAS BE5 REVIS$ 6REFLECT ! ,BILL ;,C-#EB AM5D;T 6P>AGRAPH #ADF7#B77C4#A74 ,SPECIFIC,Y1 PLANS REGI/]$ AF #AIIJ M/ P]MIT ! )DRAWAL ( AM.TS 6REDUCE ! AM.T ( TAX O!RWISE PAYA# "U ,"P ,X4#A4 ,P>AGRAPH #CB 7REPLACES -;TS 9 =M] P>AGRAPH #BF7 REFLECTS ! ,BILL ;,C-#BC AM5D;TS 6P>AGRAPHS #ADF7#B77A7 & 7B74 ,! E6ECT ( ^! AM5D;TS IS 6P]MIT "PIAL )DRAWALS 6BE MADE \ ( AN UNMATUR$ ,,RRSP )\T CAUS+ DEREGI/R,N & 6P]MIT A REFUND ( EXCESS 3TRIBU;NS \ (A MATUR$ ,,RRSP )\T CAUS+ DEREGI/R,N4 ,P>AGRAPH #CC 7REPLACES =M] P>AGRAPH #BG7 D1LS )! =M ,T#A-;,,OVP4 #GE ,,IT-#ABD;,R#F D#AD ,NEW P>AGRAPH #CD SETS \ ! RULE 9 SUBSEC;N #BJD.A7#D71 : 0 A4$ 0,BILL ;,C-#EB4 ,SUBSEC;N #BJD.A7#D7 P]MITS ! ,M9I/] 6WAIVE ! ,"P ,X4#A TAX 9 C]TA9 CIRCUM/.ES4 ,NEW P>AGRAPHS #CE & #CF D1L )! PROVI.NS ( SUBSEC;N #ADF7#F.A7 : 0 A4$ 0,BILL ;,C-#EB4 ,? SUBSEC;N PROVIDES A SPECIAL DEDUC;N = PRESCRIB$ PREMIUMS PD 6AN ,,RRSP4 ,NEW P>AGRAPH #CG 4CUSSES ! SPECIAL RULES T APPLY 65SURE ! ,,RRSP DEDUC;N LIMIT & UNUS$ ,,RRSP DEDUC;N ROOM (A BANKRUPT 9DIVIDUAL &! ,"P ,X4#A TAX PAYA# 0S* AN 9DIVIDUAL W 2 DET]M9$ Z IF ! 9DIVIDUAL _H N 2COME BANKRUPT4 ,A ,GLOSS>Y HAS BE5 A4$ AT ! 5D (! BULLET9 6PROVIDE AN EXPLAN,N ( C]TA9 T]MS US$ "?\T ! BULLET94 ,! EXPLAN,NS (! T]MS 8NET PA/ S]VICE P5.N ADJU/;T10 8PREMIUM10 8,,RRSP DEDUC;N LIMIT10 8,,RRSP DOLL> LIMIT10 & 8SP\SE0 REFLECT AM5D;TS "U ,BILL ;,C-#IB4 ,! DEF9I;N (! T]M 8SP\SE0 AL REFLECTS A ,BILL #GF ,,IT-#ABD;,R#F E#AD ;,C-#BG AM5D;T4 ,! NOTE AT ! 5D (! DEF9I;NS (! T]MS 8NET PA/ S]VICE P5.N ADJU/;T0 & 8P5.N ADJU/;T0 REFLECTS ! APPLICA# PROPOS$ AM5D;TS 3TA9$ 9 ! ,DECEMB] #AH1 #AIIB DRAFT ,REGUL,NS4 #GG