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Benito has $5,110 carry-forward balance from unused RRSP contribution room in the prior year. He had a salary income of $64,975 last year. The maximum
Benito has $5,110 carry-forward balance from unused RRSP contribution room in the prior year. He had a salary income of $64,975 last year. The maximum contribution for the year is the lesser of $26,500 or 18% of prior year's earned income. He and his employer each contributed 3% of his salary to a defined contribution pension plan. Investment income totaled $6,500 from interest and dividends in the prior year. How much could Benito contribute to his RRSP this year?
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