Personal Finance

Small mistake on taxes

  • Last Updated:
  • May 1st, 2019 5:07 pm
[OP]
Sr. Member
Jan 22, 2015
633 posts
163 upvotes

Small mistake on taxes

I made an rrsp contribution this year so obviously I put it on my taxes. But I made a small mistake. When it asks for your prior year contribution limit I entered the 2018 limit insead of the 2017. The amount I contributed was much smaller than the limit.

Should I go back and change this? I didn't realize this until after I submitted.
5 replies
Deal Addict
Apr 6, 2008
1759 posts
1070 upvotes
Well I would be careful now, you might get CRA calling... threatening to get you arrested. I would comply, just only send them iTunes gift cards. They asked for Target but I couldn't find any in Canada...

All kidding aside...I would make an amended return before they do an audit. CRA doesn't fool around when they think they have been wronged.
Deal Expert
Aug 22, 2011
28348 posts
14145 upvotes
Ottawa
rssdale wrote:
Apr 30th, 2019 10:04 pm
I made an rrsp contribution this year so obviously I put it on my taxes. But I made a small mistake. When it asks for your prior year contribution limit I entered the 2018 limit insead of the 2017. The amount I contributed was much smaller than the limit.

Should I go back and change this? I didn't realize this until after I submitted.
You'll be fine, as you didn't over contribute.
Before the days of MYCRA account and I couldn't be bothered to look for the paper NOA, I simply put the limit at $1000 more than my contribution.
Sr. Member
May 16, 2017
673 posts
660 upvotes
That deduction limit line isn't used by CRA to change any data they have it is only used to provide the taxpayer with guidance on avoiding RRSP overcontributions.
Deal Fanatic
Feb 9, 2009
7725 posts
4662 upvotes
OH CRAP I SMELL 7-10 YEARS IN JAIL FOR THIS!

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