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Question 35: (1 Point) Lior and Heidi are purchasing their first home today and looking to withdraw from their Registered Retirement Saving Plans (RRSPs) for
Question 35: (1 Point) Lior and Heidi are purchasing their first home today and looking to withdraw from their Registered Retirement Saving Plans (RRSPs) for the down payment under the Home Buyer's Plan (HBP). To date, Lior has contributed $25,000 while Heidi has contributed $37,000. With the downturn in the markets, as of today, August 15, 2020, the market value of Lior's RRSP is at $23,322 and Heidi's is at $35,798. What is the maximum amount they can withdraw today from their respective RRSPs to put towards their down payment on a home under the HBP? Note for withdrawals made after March 19, 2019, each can withdraw up to a maximum of $35,000 from their own RR SP. $60,120 $58,322 $70,000 $62,000 $57,455
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