Quote:
Originally Posted by corpfan1 
5. I need help with deciding how much/whether to contribute to an RRSP (I have never contributed before).
Any tips? What are the steps to finding the best situation here?
Thanks for any advice!
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I would personally get an accountant - they are held responsible for your info and if CCRA does enquire they will speak to them not you.( Personal experience my tax guy(rev canada guy) is an ass...... you really dont want to have to deal with them) As far as your RRSP your 2006 assesment should have a sheet attached as to what your limits are I think its something like 30% of your income each year is allowed for contributions the following year.
If you have never contributed than each year you have worked that amount will just be stacked on top of each other. ( I have always been told to try and make sure I dont go over my contribution limits)
Also I would see a chartered accountant in a firm before I go to H&R block for this