Which of the following is a stipulation for RRSP contributions?

RRSP (Registered Retirement Savings Plan) contributions indeed have specific stipulations that govern who can contribute. One crucial aspect is the concept of 'unused contribution room.' This means that individuals can only contribute to their RRSP up to a certain limit based on factors such as their income and any contribution room they may have carried forward from previous years.

The contribution limit is determined annually and is typically a percentage of earned income, up to a maximum dollar limit set by the government. If an individual has not utilized their full contribution limit in previous years, they can carry that unused room forward and use it in future years. This ensures that taxpayers have the flexibility to make contributions when they are financially able to do so, without losing the opportunity to benefit from tax-deferred growth within the RRSP.

Other statements about stipulations for RRSP contributions do not align with current rules. For instance, individuals do not need to be employed full-time to make contributions; they only need to have earned income to generate RRSP contribution room. Additionally, taxpayers can contribute to their RRSP multiple years, not limited to the year they reach a certain age. Finally, contributions do not necessarily have to come solely from the account holder; a person can contribute on behalf of someone