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66 Lewis earns $150,000 per year and is therefore in the highest tax bracket. His earned contribution room for the 2015 tax year is limited

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66 Lewis earns $150,000 per year and is therefore in the highest tax bracket. His earned contribution room for the 2015 tax year is limited to a maximum of $24,930. Additionally, he has $60,000 in unused contribution room from prior years. Lewis plans to take a yearlong sabbatical in 2016 to travel across Europe. As such, he will earn very little income in 2016. Fortunately, he will be able to support himself, in part, with the $100,000 that he has in his bank account. Which one of the following tax-planning strategles would make the most sense for Lewis? ut of Select one: a. The most Lewis can contribute to his RRSP is $84,930. He should contribute this amount to his RRSP in 2015 and withdraw trom his RRSP in 2016 when he is in a lower tax bracket. b. The most Lewis can contribute to his RRSP is $24.930. He should contribute this amount to his RRSP in 2015 and withdraw from his RRSP In 2016 when he is in a lower tax bracket c. The most Lewis can contribute to his RRSP is $60,000. He should contribute this amount to his RRSP in 2015 and withdraw from his RRSP in 2016 when he is in a lower tax bracket. d. Making an RRSP contribution today would offer no advantages if funds are withdrawn within the next three calendar years. en 67 Which one of the following statements best defines a capital accumulation plan (CAP)? Select one: out of a. It is a group plan in which members have some investment choice. b. It is a group plan in which the end benefit or the formula for calculating the end benefit is pre-determined, c. It is a group plan in which the benefit is guaranteed to increase each year by a minimum amount d. It is a group plan in which the employer matches employee contributions dollar for dollar up to a certain maximum. TI

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