Question
During the year ending December 31, 2018, Ramona Collins has employment income before the deduction of any RPP contributions of $40,000, a net business loss
During the year ending December 31, 2018, Ramona Collins has employment income before the deduction of any RPP contributions of $40,000, a net business loss of $16,000, interest income of $6,000, and income from royalties of $7,000. The royalties were on a book written by Ms. Collins in her undergraduate years at university. She has no Unused RRSP Deduction Room from previous years.
She is a member of a Deferred Profit Sharing Plan in which, during 2018, her employer has contributed $3,000 per employee. Her maximum deductible Registered Retirement Savings Plan contribution for 2019 is:
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