CCRA and RRSP Season

Are you frustrated by clients who have lost or thrown out their letter of assessment and have no idea of their RRSP contribution limit? The Canada Customs and Revenue Agency (CCRA) has just introduced a new automated service that may make life a little bit easier.

It is now possible to obtain year 2000 contribution limit numbers over the phone through the CCRA's "Tax Information Phone Service" (T.I.P.S.) and its Internet equivalent, "T.I.P.S. Online".

The client will be asked to provide his or her social insurance number, month and year of birth, and the amount entered on line 150 (Total Income) of his or her 1999 income tax return. The T.I.P.S. telephone number is 1-800-267-6999 and T.I.P.S. Online is available on the CCRA Web site at www.ccra-adrc.gc.ca/tips.

Advisors should also keep in mind that a CCRA telephone enquiries service is available to help employers, plan sponsors, administrators and others interpret legislation and regulations related to the administration of registered plans, and also to assist in the calculation of Pension Adjustments, Past Service Pension Adjustments, and Pension Adjustment Reversals. This service is available weekdays between 8:00 a.m. and 5:00 pm eastern time at 1-800-267-3100 (bilingual service at 1-800-267-5565).

With regards to deductibility and reporting issues, the local tax service office should be contacted. That number may be obtained by calling 1-800-959-8281.

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