Précis: The taxpayer had over-contributed to his RRSP commencing in 2006. By 2012 he had lost much of his investments and closed the RRSP account. In 2013 his initial assessment indicated that he had a deduction limit of $3,298 for 2013 and $23,439 of unused RRSP contributions available for 2014. By a subsequent notice of reassessment CRA notified the taxpayer this his unused RRSP contributions for 2013 were limited to $2,000 and reassessed 2013, 2014 and 2015 consequentially. He appealed these reassessments. The taxpayer also applied for and received in 2015 relief in respect of his prior over-contributions.
Roy v. R. – TCC: RRSP over-contributions not eliminated by loss on investments in RRSPREAD MORE »