On April 1, 2020, Angela contributed $25,000 to her RRSP account. During the year 2020, she was employed by a large public company and also contributed to her employer's registered pension plan, along with her employer. For 2020, Angela contributed $10,000 to her employer's pension plan and the employer contributed $15,000. At the beginning of 2020 Angela had no unused RRSP Deduction Room and no undeducted RRSP contributions. Angela's Earned Income for 2020 is $200,000 and her pension adjustment for 2020 is $25,000. Angela also provides you with her information for the previous year: her Earned Income for 2019 was $150,000 while her pension adjustment was $20,000.

 

What is the maximum RRSP deduction Angela can take for 2020 based on the information given above?

Answer rating: 100% (QA)

To determine the maximum RRSP deduction Angela can take for 2020 we need to consider her cont... View the full answer