The RRSP contribution deadline for the 2023 tax year is fast approaching. Thursday, February 29th is the last day to contribute to a RRSP and receive an income deduction for the 2023 tax year. A RRSP contribution will reduce your tax payable and may also lead to a refund. In addition, you’ll benefit from tax-deferred growth on your money as long as it remains in the RRSP account.