Question: how are rrsp contribution limits calculated?
Answer: The 2019 & 2020 deduction limit The RRSP deduction limit for the 2019 tax year is 18% of a taxpayer's pre-tax earned income for 2019 or $26,500, whichever is less. For example, if you earned $60,000 in 2019, your RRSP deduction limit is 18% x $60,000=$10,800. This is less than the maximum deduction limit.