As far as I know, you can dump your investment anytime into RRSP (knowing your RRSP limit) during the current year, and claim part of taxes for this year.
You cannot claim for any taxes paid in the previous year.

If you invest all of your money in one year (in rrsp), then you will likely feel the pinch on taxes in futures years

Example; contribution limit for 2011 80,000
annual income 70,000
cash 100,000

any ideas on a good strategy? Also considering the Smith Maneuver. Good posts here on that! Thanks guys!

I typically do my taxes online before Mar 1, but don’t submit them, just see if I’ll owe or not, and if so, then I’ll purchase RRSP’s to offset that, however, I’ve always gone in to the bank to do so, if I purchase RRSP’s online (through TD Canada Trust in this case) are you typically issued all the information you need right there on the spot? So long as my purchase of an RRSP today or tomorrow counts as being purchased before March 1st, I’m happy.

Thanks,

Chris

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