Benito has $5,486 carry-forward balance from unused RRSP contribution room in the prior year. He had a
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Benito has $5,486 carry-forward balance from unused RRSP contribution room in the prior year. He had a salary income of $62,867 last year. The maximum contribution for the year is the lesser of $26,500 or 18% of prior year's earned income. He and his employer each contributed 3% of his salary to a defined contribution pension plan. Investment income totaled $6,500 from interest and dividends in the prior year. How much could Benito contribute to his RRSP this year?
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
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