Tax season reminders

Statements: Mailing and web posting schedule 
First 60-day RRSP contribution guidelines 
Tax slips: Mailing and web posting schedule 
Upcoming regulatory changes for 2024 

Statements: Mailing and web posting schedule

Below are the anticipated dates when year-end statements will be mailed and posted on online (AdvisorAccess and InvestorAccess).

Please note that these dates are tentative and are subject to change.

First 60-day RRSP contribution guidelines

The Canada Revenue Agency (CRA) deadline for receipt of first 60-day orders is midnight, February 29, 2024.

The processing deadline for trades requesting a first 60-day contribution will be 4:00 pm on March 4, 2024.

Mackenzie follows the industry best practices as outlined by IFIC:

• Contribution receipts will be mailed daily starting January 9, 2024 (excluding PACs and employee/employer GRRSP contributions). GRRSP and PAC contributions processed up to and including February 29, 2024 will be consolidated and issued on the same day.  Duplicate receipts can be retrieved online.
• From February 29 to 4:00 pm ET on March 4, all contributions made into a Mackenzie RRSP will trigger a first 60-day contribution receipt, provided the supporting documentation was received in the dealer’s office on or before the deadline.
• From February 29 to 4:00 pm ET on March 5, contributions made into a Mackenzie Group RRSP will trigger a first 60-day contribution receipt, provided the proper supporting documentation is received. This will allow for situations where the employees’ contribution payments have been made prior to the deadline through their regular payroll deduction but the funds were not released in time by the employer or sponsors payroll programs.
• From February 29 to 4:00 pm ET on March 4, dealers may designate electronic purchases as ‘first 60-day’ via Fundserv by indicating “contribution period = P” on the trade. Fundserv will reject all electronic orders placed as first 60-days (Contribution period = P) after 4:00 pm on March 4, 2024.

Guidelines for issuing contribution receipts under exceptional circumstances after the March 4, 2024 deadline are provided by IFIC on their website at www.ific.ca.

These procedures are not considered an extension to the CRA deadline for contributions.  Rather, they’re intended to allow contributions received by the dealer before the deadline to be directed to Mackenzie for investment accordingly.

Tax slips: Mailing and web posting schedule

Please refer to the chart below for the anticipated dates and methods of delivery. Mailing and web posting dates will be the same unless otherwise indicated.

Please note that these dates are tentative and are subject to change.

Regulatory changes for 2024

Amendments to Rule H1 for Pre-Authorized Debits (PADs)

Changes to the Canadian Payments Association's Rule H1 come into effect in January 2024.

One-time PAD agreements will now automatically terminate once the payment has been completed. This means that a new form will be required each time a client wants to execute a one-time purchase to draw funds from their bank account.

To avoid delays and minimize any disruption to clients, you can place a wire order buy that settles via EFT, which doesn’t require a client-signed form.

Increased TFSA contribution limit

In 2024, the contribution limit for TFSAs will increase from $6,500 to $7,000 due to indexation.  The total contribution room for an eligible TFSA investor as of 2024 is now $95,000.00.