You don’t have to deduct RRSP contributions on your tax return in the same year you make them, you can wait and deduct it in a future year. You may choose to do this if you looking for income tax savings in the future such as if think your income will be higher in the future, moving you up to a higher tax bracket. You do not have to claim the undeducted contributions in a single year. Learn more about unused RRSP contributions.
Visit GetSmarterAboutMoney.ca to learn more about, RRSPs, investing and other financial topics. We are not able to give advice, speak with a tax professional for tax advice that fits your personal situation.