Anne withdrew $15,000 from her RRSP under the HBP in May 2016. She was required to...

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Anne withdrew $15,000 from her RRSP under the HBP in May 2016. She was required to repay $1,000 each year beginning in 2018. From 2018 to 2020, inclusive, Anne made her minimum required HBP repayment. Anne received an unexpected bonus of $800 in January 2021 and immediately used it towards her 2021 repayment. In addition, she made her regular $1,000 HBP repayment in June 2021. Starting in 2022, what will be Anne's new minimum repayment requirement for the remainder of her HBP repayment period? (3 marks) Anne withdrew $15,000 from her RRSP under the HBP in May 2016. She was required to repay $1,000 each year beginning in 2018. From 2018 to 2020, inclusive, Anne made her minimum required HBP repayment. Anne received an unexpected bonus of $800 in January 2021 and immediately used it towards her 2021 repayment. In addition, she made her regular $1,000 HBP repayment in June 2021. Starting in 2022, what will be Anne's new minimum repayment requirement for the remainder of her HBP repayment period? (3 marks)

Answer rating: 100% (QA)

Withdrawn from RRSP 15000 Payable 1000 per year from beginning in 2018 Making ear... View the full answer