Miss Whyte had the following reported on her tax return in the previous year: Net employment
Fantastic news! We've Found the answer you've been seeking!
Question:
Miss Whyte had the following reported on her tax return in the previous year: ◦
Net employment income $20,000.00
◦Net rental income $7,000.00
◦Interest income $5,000.00
◦uneducated RRSP contributions nil
◦Unused RRSP deduction room $2,000.00 }
Miss Whyte informs you that she contribute to her RRSP as follows:
October 30, current year $3,000
January 15, following year $3,000
Miss Whyte is not a member of an RPP or DPSP.
Required:
What is Miss Whyte’s RRSP deduction limit? What is the maximum RRSP deduction Miss Whyte can take on her current year’s tax return?
Expert Answer:
Posted Date:
