The Value of your Notice of Assessment - Available RRSP Room
For midwives and other self-employed higher earning professionals the Notice of Assessment (NOA) is a valuable tax document that comes just after tax filing and has quite a bit of handy information in there to help with general tax planning.
Using your Notice of Assessment to help you make better planning decisions
Aravind takes a snapshot of a real notice of assessment (with identifying information removed) and walks through the RRSP room that is often found on the second page.
He breaks down the importance of it and also something that is often overlooked by people which is that sometimes there are what are called "carry forwards" or RRSP contributions that haven't yet been deducted.
He also breaks down why the Notice of Assessment is so valuable for this because those "carry forwards" aren't reported on the summary of RRSP/TFSA room. If you are interested in learning a bit more about your tax documents and how helpful they can be - this post is for you!

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