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Working remotely from Canada in US company as Canadian PR

harirajmohan

VIP Member
Mar 3, 2015
6,162
1,666
Category........
Visa Office......
Sydney, NS
Job Offer........
Pre-Assessed..
App. Filed.......
29-May-2015
Doc's Request.
30-Dec-2015 ReminderEmail(PCCs, NewPassport via cse 31-Dec-2015)
Nomination.....
SK 22-Apr-2015
AOR Received.
11-Aug-2015
Med's Request
23-Dec-2015
Med's Done....
20-Jan-2016
Passport Req..
26-May-2016 (BGC In Progress 25-May-2016)
VISA ISSUED...
PP Reached Ottawa:27-May-2016, Received:10-Jun-2016
LANDED..........
PR: 09-Jul-2016, PR Card: 17-Aug-2016
If you max out 401k, can you still max out RRSP to its full limit, or will it only be the difference between 401k contribution and RRSP limit. E.g. 20,500 for 2022 is the max 401k limit roughly equal to 25625 assuming 1.25 as an exchange rate. RRSP limit for 2022 is 29210. So can you contribute full 29210 or would it be a diff between 29210-25625=3585? This also assumes no prior RRSP contributions in any prior years, nor any tax paid in Canada
https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/rc268/rc268-21e.pdf
"The amount you can deduct can be no more than the amount of tax relief available in the U.S., and no more than your registered retirement savings plan (RRSP) deduction room remaining after you deduct any RRSP contributions for the year. "