REVscene Automotive Forum - View Single Post - CPP proposed increases and why you should care

waddy41 · 06-14-2010, 11:49 AM

Can you explain how some tax filers do not qualify to contribute to RRSP.
I thought with you can contribute 18% of your previous year's incomem so the only people who don't qualify are those who are working for the first time.

Also, how do you get 40%+31%? People can have a pension AND contribute to RRSP.

Well, I don't want them to increase CPP contributions. That will be even more deductions taken from my income.

Maybe CPP contributions should be calculated on an individual basis and be based on several factors like annual income, RRSP contributions, RRSP contribution room, existing pensions, etc.

06-14-2010, 11:49 AM	#3
waddy41 Rs has made me the man i am today! Join Date: Apr 2004 Location: Vancouver Posts: 3,073 Thanked 69 Times in 47 Posts Failed 11 Times in 6 Posts	Can you explain how some tax filers do not qualify to contribute to RRSP. I thought with you can contribute 18% of your previous year's incomem so the only people who don't qualify are those who are working for the first time. Also, how do you get 40%+31%? People can have a pension AND contribute to RRSP. Well, I don't want them to increase CPP contributions. That will be even more deductions taken from my income. Maybe CPP contributions should be calculated on an individual basis and be based on several factors like annual income, RRSP contributions, RRSP contribution room, existing pensions, etc.