RRSP rules limit a taxpayer's contributions to the higher of 18 percent of total income to a maximum amount of $25 000.

Question

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RRSP rules limit a taxpayer's contributions to the lesser of 18 percent of the taxpayer's earned income from the previous year or the annual contribution limit set by the government, which is subject to change each year and has been above $25,000 in recent years.

RRSP Rules Limit a Taxpayer's Contributions to the Higher of 18