Returning Canadian resident- RRSP question?

Question

I'm a Canadian citizen, but had been living abroad for six years, non-residency status, so I did not pay tax. I am now back in Canada as a resident, and wish to begin re-investing in my RRSPs. But the RRSP investment limit is determined by one's tax return from the previous year- am I allowed to invest at this time, or must I wait a fiscal year until I have filed a tax return?

Answer 1

You must wait until next year.  Unless you have available room from before you left Canada.  If you call Revenue Canada they will be able to tell you your available room

http://www.cra-arc.gc.ca/tax/individuals...

Answer 2

You really should have filed tax returns with CRA for the years you were away on your world income.  Once you finally file a current return with them, they'll question the you for the other years.

Answer 3

Assuming you were non-resident for tax purposes for those six years, you will only be able to contribute towards any unused RRSP contribution room from prior years.

Also in 2009 we have the TFSAs coming.  You might want to look into contributing to one of those immediately in 2009 and though you don't get a tax deduction, the earnings in the TFSA will be tax free.