Glossary entry

English term or phrase:

Contribution room

Italian translation:

limite contributivo

Added to glossary by Valeria Pupilli
Dec 20, 2018 16:47
5 yrs ago
3 viewers *
English term

Contribution room

Non-PRO English to Italian Bus/Financial Accounting
For more information about the details listed below or how employer contributions to a PRPP or group RRSP will affect your contribution room for the year, go to canada.ca/rrsp or refer to Guide T4040 , RRSPs and Other Registered Plans for Retirement.
Proposed translations (Italian)
3 limite contributivo
Votes to reclassify question as PRO/non-PRO:

PRO (2): martini, Alessandra Rizzo

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Proposed translations

15 hrs
Selected

limite contributivo

in base a quanto sotto

TFSA contribution room
Your TFSA contribution room is the maximum amount that you can contribute to your TFSA.
https://www.canada.ca/en/revenue-agency/services/tax/individ...

You can find your registered retirement savings plan (RRSP), pooled registered savings plan (PRPP) deduction limit, often called your "contribution room" by going to:
...
the "Available contribution room for 2018" amount found on the RRSP Deduction Limit Statement
https://www.canada.ca/en/revenue-agency/services/tax/individ...

Because of the awesome tax-sheltered benefits that are offered by TFSAs (read more on that here), the government sets a limit to how much you contribute to TFSAs. All TFSA contributions made during the year, including the re-contribution of withdrawals made from a TFSA, will count against your contribution room. If you exceed the contribution limit (even if accidentally), you could receive a tax penalty from the Canadian Revenue Agency (CRA). Learn more about that what happens if you over-contribute.
https://help.wealthsimple.com/hc/en-ca/articles/115014931608...

https://en.wikipedia.org/wiki/Tax-Free_Savings_Account
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4 KudoZ points awarded for this answer. Comment: "Grazie per il contributo!"
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