An expense that would be included in the deductions of a taxpayer is 1 Multiple Choice -24:26 travel to work life insurance premiums. union and professional dues, The financial planning objective is to 32 Multiple Choice 03 01:24:13 O evade taxes. minimize taxes. maximize income An RRSP, RPP, and IPP are examples of 33 Multiple Choice 8 01:23:55 O O tax-exempt retirement plans tax-deferred retirement plans. O capital gains. What is a benefit of RRSPS? 34 Multiple Choice 8 01:23:46 You can borrow up to $35,000 from your RRSP to put toward the down payment on your first home Withdrawals from the plan are tax free if taken during retirement You can contribute an unlimited amount on an annual basis The Tax Free Savings Account (TFSA) contribution limit 35 Multiple Choice 8 01:23:31 Is fixed at $5,000/year will increase at a rate of 10% per year is indexed to the CPI and increases in multiples of $500 A disadvantage of paying utilities with an automatic payment from your account is 37 Multiple Choice 8 01:23:10 It takes longer for the utility company to receive the funds You have to pay additional fees from your utility company A minor error can result in an overdrawn account and costly fees