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RRSP contributions

Would having a RRSP contribution coming right off payroll effect the Monthly income, or is it only based on the after tax and deductions amount.

Posted from: Ontario

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One Response to “RRSP contributions”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

When you are calculating the cost of bankruptcy it is based on your net income, but this only includes standard deductions. Where you have RRSP contributions coming off your paycheque each month, this must be added back in to your income to determine what that cost would be.