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.
Your 2015 earned income will determine your 2016 contribution limit. Tax tip: Making the maximum RRSP contribution in 2015 will require earned income of at least $138,500 for 2014. Check the Notice of Assessment that the CRA sent to you after the assessment of your 2014 return. It will tell you how much you can contribute and should take into account any under contributions since 1991.