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Contribution room

The amount you can put into a savings plan like a Registered Retirement Savings Plan (RRSP). If you do not put the full amount into the plan each year, you will have extra, unused contribution room that you can use in later years. Example: Let’s say you can contribute $12,000 to your RRSP this year, but you only save $2,000. You may put in $10,000 more next year, for a total of $22,000 (if your income is the same).

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