Question: 10. Mikes total RRSP contribution room for the current year is $8,000, while his wife Maria's room is $2,000. Mike has decided to contribute $5,000

10. Mikes total RRSP contribution room for the current year is $8,000, while his wife Maria's room is $2,000. Mike has decided to contribute $5,000 to his own RRSP and $3,000 to a spousal RRSP for Maria. How much can Maria now contribute to an RRSP on her own behalf without exceeding her own limit?

. Jerry died 3 weeks ago. His wife, Olive, who is 68, is eligible for a designated benefit of $175,000 from Jerrys RRIF. Jerry was to have withdrawn $8,000 from his RRIF this year, but had only withdrawn $2,500 before his death. What happens to Jerrys RRIF? Can Olive transfer some of Jerrys RRIF to her own RRIF? How much and why?

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