After deducting an RPP contribution of S2,000, Mrs. Blue has net employment income of $34,000 in...

 

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After deducting an RPP contribution of S2,000, Mrs. Blue has net employment income of $34,000 in the previous year. Her employer reports a Pension Adjustment of $4,500 on her previous year's T4. Her current year's RRSP contributions total $5,000. At the end of the previous year her Unused RRSP Deduction Room was $2,500. Required: What is the maximum RRSP deduction that Mrs. Blue can take on her current year's tax return? After deducting an RPP contribution of S2,000, Mrs. Blue has net employment income of $34,000 in the previous year. Her employer reports a Pension Adjustment of $4,500 on her previous year's T4. Her current year's RRSP contributions total $5,000. At the end of the previous year her Unused RRSP Deduction Room was $2,500. Required: What is the maximum RRSP deduction that Mrs. Blue can take on her current year's tax return?

Answer rating: 100% (QA)

Annual adjusted limit for RRSP contribution is 27830 Taxpayers are allowed to contribute up to 18 ... View the full answer