Business and Personal Finance Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- REGISTERED RETIREMENT SAVINGS PLAN (RRSP)
A Federal Plan which allows a taxpayer to contribute approximately 18% of earned income — to a maximum of $13,500 into a retirement plan "tax free". If the taxpayer has already paid tax on personal income, then the RRSP contribution (which can be made until March 1st of the year following the year in which the income was earned and taxed) can result in a significant tax rebate.Back