When Josephtransferred his investments from his RRSP to his non-qualifying RRIF, he elected to base the RRIF on the age of his wife, Emily. At the beginning of this year, the fair market value of the assets in his RRIF was $200,000. Also at the beginning of this year, Emilywas 64. Josephwas 75. He plans to withdraw the minimum required amount from his RRIF this year. Had Josephbased his RRIF withdrawals on his age, his minimum withdrawal would be based on a percentage of 7.85%. By basing his minimum RRIF withdrawal on Emily's age, on what amount will he be able to continue to defer tax?

Answer rating: 100% (QA)

Since the fair market value of the assets in Josephs RRIF is 200000 ... View the full answer