Jimmy decided to retire and travel around the world as he reached the retirement age of 65 last year in December. He planned to visit his grandsons and his family in Europe and Asia. In view of his contribution to the business; Jimmy's boss approved to pay him $80,000 and Jimmy started working in this business in 1988. What is the tax impact if he decided to contribute to his RRSP using the fund? Select one: a. Include in income $80,000 in the year of receipts and no deducted for contributing to the RRSP using the fund. b. Include in income of $80,000 and contribute $17,500 to RRSP and receive RRSP deduction of $17,500. O c. Include in income of $80,000 and contribute $17,000 to RRSP and receive RRSP deduction of $17,000.- O d. Include in income $80,000 in the year of receipts and receive RRSP deduction for the amount Jimmy contributed to his RRSP.

Jimmy decided to retire and travel around the world as he reached the retirement age of 65 last year in December. He planned to visit his grandsons and his family in Europe and Asia. In view of his contribution to the business; Jimmy's boss approved to pay him $80,000 and Jimmy started working in this business in 1988. What is the tax impact if he decided to contribute to his RRSP using the fund? Select one: a. Include in income $80,000 in the year of receipts and no deducted for contributing to the RRSP using the fund. b. Include in income of $80,000 and contribute $17,500 to RRSP and receive RRSP deduction of $17,500. c. Include in income of $80,000 and contribute $17,000 to RRSP and receive RRSP deduction of $17,000. d. Include in income $80,000 in the year of receipts and receive RRSP deduction for the amount Jimmy contributed to his RRSP