Question
An investor has both a large investment and an RRSP account. His administration fee on the RRSP is $125 and he is considering taking out
An investor has both a large investment and an RRSP account. His administration fee on the RRSP is $125 and he is considering taking out a loan to make this year's RRSP contribution. In order to minimize his tax burden, the best recommendation would be for her to... Question 5 options: A) claim the $125 tax deduction for the RRSP administration fee and take out a $10,000 RRSP loan. B) claim the $125 tax deduction for the RRSP administration fee and take out a $10,000 loan applied against either the RRSP or investment account and C) write off the interest expense against gains in either account. take out a $10,000 loan applied against the investment account and write off the interest D) expense against gains in the investment account. take out a $10,000 loan applied against either the RRSP or investment account and write off the interest expense against gains in either account.
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