Ajay and Ira are signing the real estate papers tomorrow on the purchase of their first home.
Question:
Ajay and Ira are signing the real estate papers tomorrow on the purchase of their first home. They both have Registered Retirement Saving Plans (RRSPs) and are looking to use the Home Buyer's Plan (HBP) to make their down payment. As of today, July 1, 2020, the market value of Ajay's RRSP is at $29,565 and Ira's is at $36,348, what is the maximum amount they can currently withdraw from their respective RRSPs through the HBP for the total down payment on their dream home? (see Table E)
Dina just started working for Telus and has become eligible to participate in their retirement plan where she contributes 8% of her gross salary on the 1st of each month. Telus matches her contributions dollar for dollar in this plan. The plan averages an annual return of 6% interest compounded semi-monthly. Dina is 23 years old and plans to retire at age 60. What is the total amount that she will have when she retires? Dina's gross annual salary is $84,000.
$1,898,765
$1,726,744
$1,839,612
$1,804,893
$1,722,925
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill