RRSP vs. TFSA Contributions - High Income
Need some support here. My net income with spouse is approx. $200k this year and I need to understand if it make sense to do a RRSP contribution at this income level for tax return purposes or should I just put all my savings into TFSA?
I have contributed to my RRSP in the past when our income was lower, but I have plenty of cap room and have not maximized the RRSPs nor the TFSAs
I find that at this income level, the greater the RRSP contribution I make, the amount of tax return doesn't really increase that much therefore it doesn't seem to make sense to do a contribution. Does this make sense?