Financial
Can I write off RRSP Contributions in Canada?
YES (PERSONAL DEDUCTION)
Explanation
RRSP contributions are deductible from your personal income, reducing your taxable income. This is a personal deduction, not a business expense. Contribution room is based on 18% of your previous year's earned income, up to the annual limit.
💡 Pro Tip
This is claimed on your personal T1 return, not your T2125 business statement. You can carry forward unused contribution room indefinitely.