Mini-Case E: Joelle

Question 7: (1.5 mark)

Joelle wants to know where she can find her Registered Retirement Savings Plan (RRSP) deduction limit, often called contribution room.

Advise Joelle of 3 places where she can get this information (.5 mark):

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Besides looking at the places that you have advised in 7a), you let Joelle know that you can calculate her 2017 RRSP deduction limit for her as you know that her salary for the previous year (i.e. 2016) was $60,000, while this year in 2017 it is $65,000. You also know that the maximum contribution limit for 2017 is $26,010. Calculate Joelles deduction limit for 2017 (knowing that Joelle has never contributed to her RRSP in the past as Joelle only joined the workforce in 2016 and has never been part of a company pension plan).

(1 mark)

RRSP calculation (1 mark):