1. In 2020, an individual had employment income of $73,000, a rental loss of $5,000 and interest...

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1. In 2020, an individual had employment income of $73,000, a rental loss of $5,000 and interest income of $2,000. The employer and employee each made a $2,000 contribution to the employee's money-purchase registered pension plan (RPP). What would be the employee's registered retirement savings plan (RRSP) contribution limit for 2021?

2. An individual received monthly payments of $500 as spousal support and $1,000 as child support for their 2 children, pursuant to a court order. The individual earned employment income of $25,000 and incurred childcare expenses of $8,000 for the 6-year-old and $6,000 for the 8-year-old. What net income or (loss) would be included in "other income and deductions"?

3. An individual sold two lots of land, each with a FMV of $30,000 and an ACB of $25,000. Lot#1 was sold to a related corporation for $40,000 and Lot#2 to the spouse for $15,000. No tax election was filed for either sale. What amount(s) would be included in the individual's net income?

4. An individual died on June 30, 2021. On that date, they owned marketable securities with a FMV of $100,000 and an adjusted cost base (ACB) of $40,000; and an unmatured registered retirement savings plan (RRSP) of $250,000. Up to the date of death, they received interest income of $8,000 and salary income of $35,000. By the terms of the will the securities were given to the son and the RRSP to the spouse. How much would be reported in the deceased's income for 2021?

5. B had earned income of $100,000 in 2020 and $80,000 in 2021. At the end of 2020 their pension adjustment was $5,000 and their unused RRSP deduction room was $2,000. What is B's maximum RRSP deduction in 2021?

6. In 2021 C had the following incomes and deductions: Salary $60,000, employment benefits $5,000, interest income $2,000, net rental income $4,000, child-care deduction $6,000, and a business loss of $13,000. What is C's earned income for RRSP purposes for 2021?

7. In the current year D withdrew $16,000 from his spousal RRSP and $9,000 from his TFSA. His spouse had contributed $4,000 to the plan in each of the last six years but not in the current year. What amount is included in D's income for tax purposes in the current year?