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Tax Tips  - February 21, 2003

Maximize your RRSP Deduction for 2002
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You have until March 3, 2003 to make deductible contributions to their registered retirement savings plan (RRSP) for the 2002 taxation year. If you are not sure how much you can deduct for 2002, you can call the Tax Information Phone Service (T.I.P.S.) or the online T.I.P.S.  The T.I.P.S. and T.I.P.S. Online RRSP deduction limit service is available from 6:00 a.m. to 3:00 a.m. (Eastern Time), seven days a week, until April 30.

To get your personal tax information using these services, you must have your 2001 tax return information on hand. You will have to give CCRA your social insurance number, your month and year of birth, and the amount you entered on line 150 of your 2001 tax return.

You can reach T.I.P.S. toll-free at 1-800-267-6999. For T.I.P.S. Online, visit the CCRA Web site at www.ccra.gc.ca/tips.