RRSP Contribution Room
I'm an independent contractor in the arts, some years I make zero dollars and was coming off a rough stretch of about five years until a life changing gig last year.
Now I'm in the position to add to my RRSP and reduce the taxable income. On 2024 I had 45000 in contribution room. I put in 10k and my engagers put in 20k, so I have 15k left that I can contribute.
However, am I correct to understand I can also apply the yearly max for my 2024 income which would be an additional $32k? Or do I have to do that after the March 2 deadline?
77k of contributions would save me about 20k in tax this year but I certainly don't want to overcontribute by 32k if I'm not understanding the rules correctly.