Rational Advisor

I don’t know why Canada doesn’t follow this rule. it would make tax preparation way easier.

In the US you can contribute to your IRA (same as an RRSP) up to the tax filing deadline. This deduction can be used towards last years returns much like the RRSP.

What’s the advantages, no rushing to do an RRSP, you can fill in your tax return, and calculate exactly what you need to do in retirement savings and do it then.

Why won’t the governmetns do it - Financial institutions don’t want it - they want to separate as far as possible finances and taxes - since most financial institutions are not involved in tax planning.