How can I find out what is my recommended RSP contribution so that I can avoid having to pay-out when I file my income tax?

If you want to find out how much room you have to contribute to your RRSP this year, you can do so:

1. Checking your Notice of Assessment (NOA). The amount, called the Deduction Limit, appears on Line (A) of your NOA.
2. Selecting the tab for RRSP/TFSA in your CRA My Account.

The term Contribution Room applies to the current year's Deduction Limit, plus any unused RRSP contribution room amounts reported in past years. This amount can be found under Contribution Room, and appears on Line (B) of your NOA.

To download a copy of your most recent NOA,  sign in to your CRA: My Account for Individuals. You can set up a new online account by visiting the CRA website.

Thank you for using TurboTax