Jamie is considering an RSP contribution and wants to know how much he will save in taxes with a $10,000 contribution.His taxable income is $125,000 and his total taxes payable are $33,900. When he adds $2,500 to his income, his taxes payable increase to $35,050.

What amount will Jamie save if he contributes $10,000 to his RSP?

Answer rating: 100% (QA)

To calculate the tax savings from an RSP contribution we ... View the full answer