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(5 Marks) It is RRSP time again and Carl is analysing his information to determine what amount he can invest in an RRSP this year.

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(5 Marks) It is RRSP time again and Carl is analysing his information to determine what amount he can invest in an RRSP this year. 2016 2017 $60,000 $76,000 Employment Income: Gross Salary Less: Income Tax CPP $12,000 $2,544 $955 $1,900 $15,200 $2,564 $836 $1,300 EI RPP Total Source Deductions $17,399 $19,900 Property Income: Taxable Dividends (Eligible) Net Rental Income (Loss) $1,900 -$1,200 $2,000 -$1,900 Other Info: Pension Adjustment (T4) Unused RRSP Deduction Room $3,800 $3,200 $3,600 EQUIRED: 1. Determine the maximum amount Carl can contribute and deduct for 2017 to his registered retirement savings plan. Show all calculations. 2. Carl's wife Darlene contributed and deducted $3,000 in 2017 to her own RRSP. If Carl contributed $3,500 to his own RRSP, what is the maximum amount which he can contribute and deduct in 2017 to a spousal RRSP for Darlene? Show all calculations 3. If Carl made a contribution to his RRSP on February 26, 2018, is he required to include this as a contribution for the 2017 tax year

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