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#7584195 - 03/03/14 07:46 AM Last day for RRSP contributions TODAY (midnight)
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9533
Loc: Toronto, ON
Anyone doing last minute shit?

I won't have access to my TurboTax until tonight, so scrambling to find an online calculator that'll show me what my return would be if I contribute $x, etc...

(TurboTax had a neat slider calculator that used last yr's figures, and you can figure out the sweet spot where you end up paying $0 in taxes, etc...)

Edited by FurBall (03/03/14 07:47 AM)
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#7584214 - 03/03/14 08:00 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: furball]
Riskhe Business Offline
Provides a Great Work Environment.
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Registered: 05/17/10
Posts: 45641
I did some additional contributions last week.
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#7584232 - 03/03/14 08:06 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: furball]
SW20_MR2 Offline
Post Master Sr


Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
Dropped off a cheque to my financial advisor last night. I should be getting a good return, which I will either dump into the mortgage or save for our expenses when we buy a house.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...

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#7584269 - 03/03/14 08:19 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: SW20_MR2]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
Maxed out my contributions back in December. Actually, I ended up overpaying by $150 or so due to the early paycheque we received around Christmas.

But as always, no tax refund for me. \:D
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#7584276 - 03/03/14 08:25 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Screamin' Type-R Offline
Post Master Supreme


Registered: 02/20/01
Posts: 47934
Loc: T.O. - Canaduh
Already transferred most of my money to swiss and cayman bqnk accts brah
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"Ban low performance drivers, not high performance cars"

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#7584329 - 03/03/14 08:49 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Screamin' Type-R]
Euphoricuck Offline
Post Master Supreme


Registered: 11/05/03
Posts: 92703
Loc: Canadistan
I make 11/hr . nopoint.jpg
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#7584388 - 03/03/14 09:27 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Riskhe Business Offline
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Registered: 05/17/10
Posts: 45641
 Originally Posted By: eddie _82
Maxed out my contributions back in December. Actually, I ended up overpaying by $150 or so due to the early paycheque we received around Christmas.

But as always, no tax refund for me. \:D


How do you not get a tax refund if you are T4 employee? Did you submit an application for reassessment of your income tax based on your contributions so they hold less off your pay cheque because you always max out? \:o

Dang son, that's some next level financial discipline y0
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#7584431 - 03/03/14 09:43 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
LNXGUY Moderator Offline
Tougher than Logan Roy
Post Master Supreme


Registered: 08/06/00
Posts: 107830
Loc: Barrie, Ont,
I can't imagine maxing out my RRSP contributions, lol @ 2013 assessment.
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The GN would OWN you, your children and your children's children.
Left foot, right foot, just keep moving!!! -Jeffrey P. Murphy


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#7584474 - 03/03/14 10:01 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: LNXGUY]
Screamin' Type-R Offline
Post Master Supreme


Registered: 02/20/01
Posts: 47934
Loc: T.O. - Canaduh
 Originally Posted By: LNXGUY
I can't imagine maxing out my RRSP contributions, lol @ 2013 assessment.
_________________________

"Ban low performance drivers, not high performance cars"

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#7584477 - 03/03/14 10:03 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Euphoricuck]
Wildout Offline
Post Master Jr


Registered: 11/26/07
Posts: 1767
 Originally Posted By: Euphoric
I make 11/hr . nopoint.jpg
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#7584480 - 03/03/14 10:05 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Wildout]
Riskhe Business Offline
Provides a Great Work Environment.
Post Master Supreme


Registered: 05/17/10
Posts: 45641
Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.
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#7584501 - 03/03/14 10:12 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
 Originally Posted By: Risky Business
Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.


I did that back when I first went f/t in the fall of 2000. I haven't had a refund since.

Discipline? Not really. Just putting aside a little bit each paycheque and making a few % on it in the meantime. And since I usually put aside more than I owe at the end of the year, it's like getting a little refund anyways.
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#7584503 - 03/03/14 10:13 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Riskhe Business Offline
Provides a Great Work Environment.
Post Master Supreme


Registered: 05/17/10
Posts: 45641
 Originally Posted By: eddie _82
 Originally Posted By: Risky Business
Thanks to eddie_82, just adjusted my income tax amounts...no more refunds lol.


I did that back when I first went f/t in the fall of 2000. I haven't had a refund since.


ballin.gif
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#7584531 - 03/03/14 10:30 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
hyper-s2k Offline
Post Master Supreme


Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
Regular scheduled contribution (bi-weekly) + pre-deduction from work (DPSP / ESPP) = pretty closed to max out my RRSP deduction limit (maybe a few hundred bucks breathing room to be rolled over to next year).
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do?
'13 x1 - now @ 99,xxx km - a2b car
'10 x3 - now @ 123,xxx km - time 2 go?
'03 s2k - now @ 80,xxx km - a2a car
'08 535i - sold @ 149,421 km - cashed out just in time!
'08 impreza 2.5i - sold @ - 64,147 km - smh POS
'01 rav4 - killed @ 155,879 km - RIP old friend

"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer

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#7584541 - 03/03/14 10:34 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: hyper-s2k]
Riskhe Business Offline
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Registered: 05/17/10
Posts: 45641
You are all putting in 20K+ in RRSP?

much amaze
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#7584549 - 03/03/14 10:39 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
Euphoricuck Offline
Post Master Supreme


Registered: 11/05/03
Posts: 92703
Loc: Canadistan
"refund" . Hayyy guise heres your own money back you couldve been utilizing, but thanks for letting us use it instead.
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#7584689 - 03/03/14 11:57 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
Choco 'Nuck Offline
Proud Member of BLM
Post Master Supreme


Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
 Originally Posted By: Risky Business
You are all putting in 20K+ in RRSP?

much amaze

Yes...
 Originally Posted By: hyper-s2k
Regular scheduled contribution (bi-weekly) + pre-deduction from work (DPSP / ESPP) = pretty closed to max out my RRSP deduction limit (maybe a few hundred bucks breathing room to be rolled over to next year).

Pretty much this.
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#7584878 - 03/03/14 01:39 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Choco 'Nuck]
iamfob Offline
Post Master Supreme


Registered: 09/06/02
Posts: 24698
Loc: Out There
Does it make a difference if you are a dual income family and helps maxing out yoru RRSP contribution every year?

I am not married and have no kid, but after the obligated expenses (mortgage, property tax, utility, gas, insurance, etc) I barely have money left to contribute \:\(

iFail in life.jpg
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#7585006 - 03/03/14 02:35 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: iamfob]
Choco 'Nuck Offline
Proud Member of BLM
Post Master Supreme


Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
Honestly, the trick is to take it out pre-tax via salary deductions, you don't even miss it.
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#7585040 - 03/03/14 02:53 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: iamfob]
Euphoricuck Offline
Post Master Supreme


Registered: 11/05/03
Posts: 92703
Loc: Canadistan
you have a mortgage?
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#7585122 - 03/03/14 03:20 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Euphoricuck]
SW20_MR2 Offline
Post Master Sr


Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
You don't even need to contribute hundreds of $ at once. Even if you only contribute $30 per paycheque, the compound growth will add up over time.
_________________________
1991 MR2 Turbo aka "The Myth"...does it really exist?
2006 Mazda3 Sport aka "Reality"...it really does exist...

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#7585180 - 03/03/14 03:41 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Euphoricuck]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
 Originally Posted By: Euphoric
you have a mortgage?


lol jealousy
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#7585294 - 03/03/14 04:33 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: iamfob]
hyper-s2k Offline
Post Master Supreme


Registered: 12/01/05
Posts: 14556
Loc: T dot O dot, Canada
 Originally Posted By: iamfob
Does it make a difference if you are a dual income family and helps maxing out yoru RRSP contribution every year?

I am not married and have no kid, but after the obligated expenses (mortgage, property tax, utility, gas, insurance, etc) I barely have money left to contribute \:\(

iFail in life.jpg


It's not so much a dual income family that helps you save money - but rather, the average living cost per person goes down as you increase the # of people in your household (up to a certain point).

Cue Brampton -- how many families are living under one roof?

There are *some* additional saving vehicles for when you have a spouse and kids; but its no where proportional to how much you spend on supporting them.

In your case, if you want to start saving (while you have your own place); consider getting a roomie and have them defray some of your costs.
_________________________
'08 //M3 - now @ 90,xxx km - wtf did i do?
'13 x1 - now @ 99,xxx km - a2b car
'10 x3 - now @ 123,xxx km - time 2 go?
'03 s2k - now @ 80,xxx km - a2a car
'08 535i - sold @ 149,421 km - cashed out just in time!
'08 impreza 2.5i - sold @ - 64,147 km - smh POS
'01 rav4 - killed @ 155,879 km - RIP old friend

"Driving in the snow is like sex. If you want to avoid accidents, abstinence is the best policy. If you're gonna take her for a spin, use protection." - Rick Mercer

Top
#7585388 - 03/03/14 05:32 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Euphoricuck Offline
Post Master Supreme


Registered: 11/05/03
Posts: 92703
Loc: Canadistan
 Originally Posted By: eddie _82
 Originally Posted By: Euphoric
you have a mortgage?


lol jealousy
hell ya. Please where can I saddle myself with 500k in debt? Much jelly ,such freedom
_________________________

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#7585475 - 03/03/14 06:08 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Euphoricuck]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada

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#7585488 - 03/03/14 06:12 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Riskhe Business Offline
Provides a Great Work Environment.
Post Master Supreme


Registered: 05/17/10
Posts: 45641
 Originally Posted By: eddie _82
 Originally Posted By: Euphoric
you have a mortgage?


lol jealousy



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#7585510 - 03/03/14 06:24 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
robbbby Offline
master electrician
Post Master Supreme


Registered: 01/23/02
Posts: 15428
Loc: Canada
i contributed $0. Fuck retirement.
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#7585859 - 03/03/14 11:12 PM Re: Last day for RRSP contributions TODAY (midnight) [Re: robbbby]
Choco 'Nuck Offline
Proud Member of BLM
Post Master Supreme


Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
 Originally Posted By: robbbby
i contributed $0. Fuck retirement.

New speakers? Whats the dealy yo!
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#7586193 - 03/04/14 09:36 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: robbbby]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19310
Loc: Wiesloch-Walldorf, Germany
 Originally Posted By: robbbby
i contributed $0. Fuck retirement.


+1

no fucks given this year. too broke as fuck.
_________________________
Who cares

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#7660785 - 04/23/14 08:17 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: c2k]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
Finally got around to filing my taxes. 7 days earlier than last year \:D
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#7660796 - 04/23/14 08:22 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Senor Eduardo_82]
Screamin' Type-R Offline
Post Master Supreme


Registered: 02/20/01
Posts: 47934
Loc: T.O. - Canaduh
 Originally Posted By: eddie _82
Finally got around to filing my taxes. 7 days earlier than last year \:D


_________________________

"Ban low performance drivers, not high performance cars"

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#7660841 - 04/23/14 08:46 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Screamin' Type-R]
Riskhe Business Offline
Provides a Great Work Environment.
Post Master Supreme


Registered: 05/17/10
Posts: 45641
This thread inspired me to max out my RRSPs yearly and to max out all my unused contribution room that I've accrued from previous years.

Challenge accepted.gif
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#7660850 - 04/23/14 08:48 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Riskhe Business]
Screamin' Type-R Offline
Post Master Supreme


Registered: 02/20/01
Posts: 47934
Loc: T.O. - Canaduh
^ lol ffuuuu that. man the money i'd need to do that - um yeah NOT happening.
_________________________

"Ban low performance drivers, not high performance cars"

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#7660925 - 04/23/14 09:16 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Screamin' Type-R]
Denis Si Offline
Post Master


Registered: 04/11/01
Posts: 2798
Loc: T.O.
RRSP? Ain't nobody got time for that. Real estate investment > RRSP.

Problem?
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#7660934 - 04/23/14 09:20 AM Re: Last day for RRSP contributions TODAY (midnight) [Re: Denis Si]
Euphoricuck Offline
Post Master Supreme


Registered: 11/05/03
Posts: 92703
Loc: Canadistan
 Originally Posted By: Denis Si
RRSP? Ain't nobody got time for that. Real estate investment > RRSP.

Problem?
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