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John is a financial analyst for Moneytree Inc. Last year, his employer offered him an option to purchase Moneytree Inc. shares at a fixed price.
John is a financial analyst for Moneytree Inc. Last year, his employer offered him an option to purchase Moneytree Inc. shares at a fixed price. John exercised this option in May 2019. Because Jane does not have a pension plan at work, John contributes to a spousal RRSP on her behalf. On July 15, 2019, he contributed $2,500 and on February 28, 2020, he contributed $1,500 to her RRSP. He has receipts from Royal Trust for both contributions. John's 2018 Notice of Assessment contains the following information: His RRSP deduction limit is $16,560; He is required to make a repayment of $800 to his Home Buyers' Plan. Some years ago, John withdrew $12,000 from his RRSP plan to make a down payment for their house. At the beginning of 2019, his outstanding balance was still $7,200
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