How much can I deduct for past service contributions to a RPP while not a contributor prior to 1990?

Allan Madan, CA

Apr 4, 2013

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Under the employee contribution rules for past service contributions while not a contributor on and after 1991 for service prior to 1990, a maximum of $3,500 may be deducted per year for contributions that were made for years of service prior to 1990. The overall limit is $3,500 times the number of years of pre-1990 past service. Contributions that cannot be deducted in the year can be carried forward.

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The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.

ABOUT THE AUTHOR

ALLAN MADAN

CA.CPA.CGA

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.

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