Important Tax Information for 2025

Tax Free Savings Account (TFSA)

• 2025 TFSA contributions can now be made. The annual TFSA contribution limit for 2025 is $7,000 and you can carry forward unused contribution room from previous years.

Registered Retirement Savings Plan (RRSP)

• Your RRSP contribution limit for the 2024 tax year can be found on your Canada Revenue Agency Notice of Assessment for 2023.
• The deadline for 2024 tax year contributions is 11:59 p.m. on March 3rd, 2025.

Registered Education Savings Plan (RESP)

• The lifetime maximum RESP contribution limit is $50,000 for each beneficiary.
• The deadline for 2025 RESP contributions is 11:59 p.m. on December 31st, 2025.