What's new

On this page, you will find links to information recently posted to this site. The links are presented according to plan type.

For documents from previous years, please visit the What's new archive.

General
Registered Pension Plans (RPPs)
First Home Savings Account (FHSA)
Registered Disability Savings Plans (RDSPs)
Registered Education Savings Plans (RESPs)
Registered Investments (RIs)
Tax-free Savings Accounts (TFSAs)

General

2022-11-17
The CRA announces the 2023 Advanced life deferred annuity (ALDA) dollar limit.

2022-11-01
The Registered Plans Directorate announces that the 2023 money purchase (MP) limit will be $31,560, the 2023 defined benefit (DB) limit will be $3,506.67, the 2024 registered retirement savings plan (RRSP) limit will be $31,560, the 2023 deferred profit sharing plan (DPSP) limit will be $15,780 and the 2023 year’s maximum pensionable earnings (YMPE) will be $66,600.

Registered Pension Plans (RPPs)

2022-11-25
The CRA has updated Newsletter no. 09-1, Administrative Relief Procedures for Retroactive Lump-Sum Catch-Up Payments.

2022-11-15
The CRA has updated the T4104 Past Service Pension Adjustment Guide. The guide has been updated primarily to provide more current year examples as well as explain the change in legislation related to the PSPA calculation for individual pension plans (IPPs).

2022-03-18
The Registered Plans Directorate has updated the instructions to line 101 of the Form T1200, Actuarial Information Summary.

First Home Savings Account (FHSA)

2023-02-13
The Canada Revenue Agency has published information about the first home savings account (FHSA). Financial institutions who wish to offer FHSAs to the public (known as issuers) need to submit an application package to the Registered Plans Directorate for approval.

The Government of Canada introduced the FHSA as a way for first-time home buyers to save up to $40,000 for a down payment. The FHSA allows up to $8,000 in annual contributions, which are tax-deductible. FHSA withdrawals used to purchase a first home are non-taxable.

For additional information concerning the FHSA, contact the Directorate.

Registered Disability Savings Plans (RDSPs)

2022-11-15
The CRA has updated Information Circular IC99-1R3 - Registered Disability Savings Plan, the Sample pro forma – Declaration of Trust, and RDSP Bulletins 1R1, 3R2, and 4R2. These updates relate to changes made to the RDSP legislation in Federal Budget 2019. An RDSP is no longer required to close if an RDSP beneficiary loses their eligibility for the disability tax credit (DTC).

Registered Education Savings Plans (RESPs)

2022-11-15
The CRA has updated RESP Bulletin No. 1R2 to include the annual educational assistance payment threshold limit for 2023, and add guidelines to help promoters determine the reasonableness of education assistance payments above the annual threshold.

2022-11-10
Education Savings Week is November 13-19, 2022. 

When it comes time for children to head out to college or to university, the financial aspect can be a burden and a source of stress for both students and parents. Alleviating this pressure by helping parents, especially those with modest incomes, plan for their child’s future is a key objective of Education Savings Week (ESW).

ESW raises public awareness through events about the importance of saving for a child’s post-secondary education. It also helps Canadians better understand the financial savings incentives that are available to them.

For more information on RESPs, the Canada education savings grant, the Canada learning bond and provincial grants, visit canada.ca/education-savings.

Registered Investments (RIs)

2022-08-10
The Registered Plans Directorate has updated the list of Registered Investments available in the Canada Gazette as of December 31, 2021.

Tax-free Savings Accounts (TFSAs)

2022-11-17
The CRA announces the 2023 TFSA dollar limit.