A new year means new financial limits.

Here’s a list of data for 2019 

Pension and RRSP contribution limits

• The new limit for RRSPs for 2019 is 18% of the previous year’s earned income or $26,500 whichever is lower less the Pension Adjustment (PA).
• The limit for Deferred Profit Sharing Plans is $13,615
• The limit for Defined Contribution Pensions is $27,230

Remember that contributions made in January and February of 2019 can be used as a tax deduction for the 2018 tax year.

Tax Year	Income from	RRSP Maximum Limit
2019	2018	$26,500
2018	2017	$26,230
2017	2016	$26,010
2016	2015	$25,370
2015	2014	$24,930
2014	2013	$24,270
2013	2012	$23,820
2012	2011	$22,970
2011	2010	$22,450
2010	2009	$22,000
2009	2008	$21,000

TFSA limits

• The TFSA limit for 2019 is $6,000.
• The cumulative limit since 2009 is $63,500

TFSA Limits for past years

Year	Annual Limit	Cumulative Limit
2019	$6,000	$63,500
2018	$5,500	$57,500
2017	$5,500	$52,000
2016	$5,500	$46,500
2015	$10,000	$41,000
2014	$5,500	$31,000
2013	$5,500	$25,500
2012	$5,000	$20,000
2011	$5,000	$15,000
2010	$5,000	$10,000
2009	$5,000	$5,000

Canada Pension Plan (CPP)

Lots of changes are happening with CPP but here’s some of the most important planning data.

• Yearly Maximum Pensionable Earning (YMPE) – $57,400
• Maximum CPP Retirement Benefit – $1154.58 per month
• Maximum CPP Disability benefit –  $1362.30 per month
• Maximum CPP Survivors Benefit
  • Under age 65 – $626.30
  • Over age 65 – $692.75

Reduction of CPP for early benefit – 0.6% for every month prior to age 65.  At age 60, the reduction is 36%.

CPP rates for past years:

Year	Monthly	Annual
2019	$1154.58	$13,854.96
2018	$1134.17	$13,610.04
2017	$1114.17	$13,370.04
2016	$1092.50	$13,110.00
2015	$1065.00	$12,780.00
2014	$1038.33	$12,459.96
2013	$1012.50	$12,150.00
2012	$986.67	$11,840.04
2011	$960.00	$11,520.00
2010	$934.17	$11,210.04
2009	$908.75	$10,905.00

Old Age Security (OAS)

• Maximum OAS – $586.66 per month
• The OAS Clawback (recovery) starts at $77,580 of income.  At $125,696 of income OAS will be fully clawed back.

OAS rates for past years:

Year	Maximum Monthly Benefit	Maximum Annual Benefit
2019	$601.45	$7,217.40
2018	$586.66	$7,039.92
2017	$578.53	$6,942.36
2016	$570.52	$6,846.24
2015	$563.74	$6,764.88
2014	$551.54	$6,618.48
2013	$546.07	$6,552.84
2012	$540.12	$6,481.44
2011	$524.23	$6,290.76

New Federal Tax Brackets

For 2018, the tax rates have changed.

Lower Income limit	Upper Income limit	Marginal Rate Rate
$0.00	$12,069.00	0.00%
$12,069.00	$47,630.00	15.00%
$47,630.00	$95,259.00	20.50%
$95,259.00	$147,667.00	26.00%
$147,667.00	$210,371.00	29.00%
$210,371.00	33.00%

Remember these rates do not include provincial tax. For new provincial rates, visit the CRA site.