Line 20800 - RRSP deduction
Line 20800 - RRSP deduction
Deductible RRSP and PRPP contributions can be used to reduce your tax. Generally, any income you earn in the RRSP or PRPP is exempt from tax as long as the funds remain in the plan; however, you usually have to pay tax when you receive payments from these plans.
Complete Schedule 7 and enter the result on line 20800 of your return.
Attach receipts to your paper return for all amounts that you contributed to an RRSP, PRPP, or SPP from March 1, 2024 to March 3, 2025. Include receipts for contributions that you are not deducting on your 2024 return as well as receipts for contributions that you are designating as Home Buyers' Plan or Lifelong Learning Plan repayments.
For more information, go to canada.ca/rrsp or see Guide T4040, RRSPs and Other Registered Plans for Retirement.
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