Deferring RRSP deduction
I have a question about deferring RRSP deductions. I'm living a frugal life keeping my expenses down. I've maxed out my TFSA and and have available cash to max out the RRSP.
I'm currently in my early 30s, early in my career and expect to be making a higher salary in the coming decade. Based on what I've read online, it makes sense to defer RRSP deductions to later years when I'm in a higher tax bracket. But how do I actually do this? What steps do I need to take to ensure the amounts I contribute right now are deferred?
I contribute to RRSP in 2 ways
1. Through my company RPP
2. Through Questrade RRSP plan
I'm currently in my early 30s, early in my career and expect to be making a higher salary in the coming decade. Based on what I've read online, it makes sense to defer RRSP deductions to later years when I'm in a higher tax bracket. But how do I actually do this? What steps do I need to take to ensure the amounts I contribute right now are deferred?
I contribute to RRSP in 2 ways
1. Through my company RPP
2. Through Questrade RRSP plan