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RRSP Deduction Limit

#1

Would still like to be able to enter a negative RRSP deduction limit.

1 Like
#2

Any chance this will be changed?

I am working on another file where I have to go in and change the RRSPNext so the clients don’t appear to have contribution room next year that doesn’t exist.

#3

I still believe we should be able to enter a negative limit. Maybe this year?

2 Likes
#4

Maybe next year?

#5

RRSP Negative Limit

I would like to see both a negative limit and T1 OVP Letter.

1 Like
#6

You can create the T1OVP Letter yourself.

I’ve done several letters personally. You merely have to ensure that you have the correction conditions when the letter is available.

#7

Still not corrected. How difficult could it be?

#8

I echo the request for negative RRSP limit. To avoid unintentional entry, there could be a warning.

I was surprised today when CRA’s website showing a negative RRSP amount due to a PSPA (Past service pension adjustment).

The RRSP limit was $ (6,487) for 2013 and has continued in negative territory up to now. This is uncommon in my practice.

#9

I also support this. CRA’s AFR information is misleading since it shows as Zero even though the notice of assessment will show the negative amount.