1. What is the MAXIMUM amount Beryl can contribute to her RRSP such that the entire amount can be deducted this year?

Source of Income	This Year	Last Year
net income from employment	$68,750	$66,490
net self-employment income	$36,150	$17,100
medical research grant	$12,500	$ 4,850
deductible alimony payments paid out	$ 6,000	$ 6,000
child support payments paid out	$ 9,000	$ 9,000
supplementary unemployment benefits received	--	$ 3,250
net rental income / (loss)	$18,000	($ 3,800)
(re: Beryl's 100% ownership interest in a rental property)
contributions to defined-benefit RPP (employee portion only)	$ 3,438	$ 3,325
interest income from a Canada Savings Bond	$ 1,435	$ 1,120
taxable capital gains from the sale of common shares	$14,600	$ 8,450

Assume the RRSP contribution limit for this year is $27,830

Answer rating: 100% (QA)

To determine the maximum RRSP contribution that Beryl can deduct this year we need to consider the R... View the full answer