tripixel

I look at RRSP this way. If i do not purchase any for the year, then my tax that was taken off each of my pay cheque.. IS G.O.N.E. !!  i will never see it again. Or for some people might even have to pay more to the government.

For each $1000 RRSP that you purchase, you will get back "ABOUT" one third of that thousand dollar from the government. (of cause it depends what your tax bracket is)

this is a pretty good web site to calcuate your income tax for the year.

http://www.taxtips.ca/calculators/taxcalculator.htm