Business managers must set clear financial objectives to emphasize the financial targets of the company. Objectives should be ambitious but also measurable and realistic. An example of a financial objective could be growth in company revenues and earnings.
The RRSP deduction and contribution limit is 18 percent of your earned income to a maximum value each year. The maximum RRSP contribution limit for 2013 is $23,820.
If your contribution limit is $12,000 then you will still only be permitted to put a total of $12,000 into any type of RRSP whether itâs in your name or your spouseâs. âYouâre trying to keep each spouse in a lower overall tax bracket,â explained Henry.