# Pension - Defined Contribution Plan - questions



## jtmann (Nov 5, 2009)

Pension - Defined Contribution Plan - questions

Hi all:

I am part of a DCP at work. My employer matches very dollar I contribute. A few questions as I just got my T4:

1. In Box 20 "RPP contributions - line 207" it has the amount that I put into the DCP during 2009. Do I get a tax credit/tax refund on this, like with an RRSP contribution? 

2. If yes, does my tax break it work same as an RRSP - is it a credit or refund? Calculations same?

3. In Box 52 "Pension Adjustment - line 206" it has the amount of my contributions + my employers match. This is how much my RRSP room will be reduced in which year - 2009 or 2010?

Thanks!


----------



## OhGreatGuru (May 24, 2009)

_1. In Box 20 "RPP contributions - line 207" it has the amount that I put into the DCP during 2009. Do I get a tax credit/tax refund on this, like with an RRSP contribution?_

Yes.

_2. If yes, does my tax break it work same as an RRSP - is it a credit or refund? Calculations same?_

Yes it works the same way as an RRSP. It goes into Box 207 on your Tax Return, where it says enter amounts from "Box 20 on all T4 slips" (RRSP contributions go into Box 208, but have same effect.). It is neither a credit nor a refund. It is a deduction from your Total Income , which will reduce your Taxable Income.

_3. In Box 52 "Pension Adjustment - line 206" it has the amount of my contributions + my employers match. This is how much my RRSP room will be reduced in which year - 2009 or 2010?_

2010, as explained in the Guide under Box 206.

My snotty advice for the day: try reading the Guide to Your Income Tax Return.


----------



## lb71 (Apr 3, 2009)

RRSP contributions go into line 208. RPP contributions go into line 207. They both have the same effect, reducing your taxable income.


----------

