Question
An individual had the following tax-related items for 2019: Child support received $18,000 Interest income $1,200 Net rental income $23,500 Salary income $84,500 Spousal support
An individual had the following tax-related items for 2019:
- Child support received $18,000
- Interest income $1,200
- Net rental income $23,500
- Salary income $84,500
- Spousal support received $12,000
- Taxable capital gains $6,300
As of January 1, 2020, the individual had unused RRSP contribution room of $21,000. On June 15, 2020 the individual made an RRSP contribution of $8,000.
Assume that it is now February 15, 2021. What it is the mximum RRSP contribution that the individual can make today to maximise their RRSP deduction for the 2020 taxation year?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
