The 0 RRSP Contribution
Deadline is March 1

Whether you're 22 or 42, it's never too early (or too late) to take control of your financial wellbeing. And with the RRSP contribution deadline coming up on March 1, now is the perfect time to open an online trading account.

Who doesn't love a good deal? Sparx Trading gives you exclusive deals from Canadian online brokerages to give your new or existing RRSP account a little boost. Whether it's cash back or commission-free trades, use one of our promo codes when opening an account and power up your self-directed investing journey today!

QUESTRADE PROMO CODE

Use this Questrade offer code available on SparxTrading.com to open an online trading account, and get a $50 commission credit, with a bonus of 60 days to use the credit.

PROMO CODE: SPARX50

BMO INVESTORLINE PROMO CODE

BMO InvestorLine is offering a deal when you open a new qualifying account using this offer code available on SparxTrading.com: get up to $2,000 cash back.

PROMO CODE: SPARXCASH

QTRADE PROMO CODE: CASH BACK

Get up to $2,000 cash back when you open a new qualifying account with these exclusive Qtrade offer codes available on SparxTrading.com.

PROMO CODES: CASHBACK22, CASHBONUS2000, CASHBACK2000, CASH2000

QTRADE PROMO CODE: $50 BONUS

Get a $50 cash bonus when you open a new registered account and start pre-authorized contributions using these Qtrade offer codes available via SparxTrading.com.

PROMO CODES: OFFER50, BONUS50, PAC50

Frequently Asked Questions

When is the 2022 RRSP contribution deadline?

The 2022 RRSP contribution deadline is March 1, 2022.

What does an RRSP deadline mean?

A registered retirement savings plan (RRSP) is a special tax-advantaged savings plan that is typically used to encourage Canadians to save and grow wealth for retirement. The “RRSP Deadline” refers to the last day you have to contribute to your RRSP and have the contribution be eligible to be counted for the previous tax year (in this case the 2021 tax year). Typically, that falls within the first 60 days of a new year.

What is the maximum RRSP contribution amount for 2022?

According to the CRA, the RRSP contribution limit for 2022 is 18% of your previous year’s income, up to a maximum of $29,210. By the RRSP deadline (March 1, 2022), you can contribute up to the maximum amount and have it count towards either your last tax year’s income (2021) or the current year (2022). You get to choose! Be aware, however, that exceeding the contribution limit in any year can result in penalties, so be sure to check your contribution amounts with your tax consultant and/or the CRA website.

Can I trade stocks online in my RRSP?

Yes, stocks can be traded within an RRSP, however, it is important to understand which stocks are eligible to be held inside an RRSP account. Technically, the term that is used is “qualified investments” which essentially means these are the kinds of investments that are permitted to be held or traded within an RRSP. As it relates to trading stocks, however, the stocks have to be traded on a “designated stock exchange” in order to be allowed to be held in an RRSP.

Are there online brokerage promotions for RRSP accounts?

Yes, leading up to the RRSP contribution deadline, Canadian online brokerages typically offer promotions and deals to compete for new customers or new deposits/assets. Cash back promotions are the most popular offers in 2022, and are a great way to boost your return on investment simply by opening and funding an account. Some online brokerages even offer promotions to existing customers to encourage deposits.

The 0 RRSP Contribution Deadline is March 1