Prior to 2019, Ms. Serena Schofeld had no earned income for RRSP purposes. In 2019 and 2020, she had sufficient earned income to allow for maximum allowable RRSP deductions in 2020 and 2021. However, she did not make any contributions in either of those years. View the income information. Serena participates in her employer's money purchase RPP. Her employer contributes twice the amount contributed by each employee to the plan. Her PA for 2021 is $15,250. Read the requirements. Requirement A. Calculate Serena's Earned Income for the purpose of determining her maximum 2022 RRSP contribution. (For accounts that are not included in the earned income calculation, leave the input field empty; do not enter a zero.) Salary Before Taxable Benefits Automobile Benefit Employee Stock Option Benefit Benefit On Interest Free Loan RPP Contributions Other Employment Expenses Total Employment Income Interest Income Taxable Capital Gains Business Income Royalty Income Rental Loss Spousal Support Received Eligible Dividends Earned Income Requirement B. Calculate Serena's maximum deductible RRSP contribution for 2022. 2020 RRSP dollar limit 2021 RRSP dollar limit Opening unused RRSP deduction room Annual addition 2021 PA Maximum deductible RRSP contribution for 2022 Income Information Requirements Serena has been employed by a Canadian public corporation since 2019. The following information pertains to her income for the past two years. A. Calculate Serena's earned income for the purpose of determining her maximum 2022 RRSP contribution. B. Calculate Serena's maximum deductible RRSP contribution for 2022. Ignore all GST/HST & PST considerations. 2022 2021 Salary Before Taxable Benefits Automobile Benefit $ 153,000 $ 153,000 7,200 6,550 Employee Stock Option Benefit Benefit On Interest Free Loan 4,100 2,950 2,090 1,530 RPP Contributions (4,550) (5,070) Other Employment Expenses (3,100) (3,200) Interest Income 2,140 2,040 Taxable Capital Gains 15,200 6,380 Business Income (Note 1) 21,200 15,200 Royalty Income (Note 2) 6,330 6,540 Rental Loss (4,950) (9,700) Spousal Support Received Eligible Dividends 1,460 23,600 23,600 1,560 Totals $ 223,720 $201,380 Note 1 The business income is from a mail-order business that Serena runs out of her home. Note 2 The royalty income is from a manual that she wrote on how to write instruction manuals. Print Done - X