Required: Complete the partner's request and calculate the RRSP contribution room for both

Camille and Theo in 2022.. The RRSP contribution limit in 2022 is $29,210

Correct answers: Camille Contribution Room 11826; Theo Contribution Room 29910

It is now December 5, 2022, and the Carters would like to know how much more they can contribute to their RRSP accounts and when the deadline is for making contributions to RRSPs for 2022 . In addition, Camille plans on buying a new car in a few months. Camille would like to withdraw 5500$ from the spousal RRSP account in her name for the down payment on the vehicle purchase.

Required: What is the unused RRSP deduction room at the end of the year for both camille and theo?

Correct answers: Unused RRSP deduction room for camille: 4326 ; for theo: 8410

Please explain how to reach these correct answers

Camille are starting to look forward to retirement and would like professional advice in effectively planning for their retirement. information. payments for the maintenance of her former spouse of $400. Camille indicated that she has always made all required spousal support payments. - A copy of Camille's T4 slip for 2021 shows gross salary of $65,500. From this amount, the employer withheld the following amounts. - Income tax: $15,800 - CPP: maximum for the year (see the Tax Rate sheet) - El: maximum for the year (see the Tax Rate sheet) - Registered Pension Plan (RPP): $2,000 - Pension Adjustment: $4,200 - Other relevant information from Camille's tax return for 2021 is shown below. - Actual amount of eligible dividends: $3,500 - Interest income: $3,600 - Unused RRSP deduction room at the end of 2021: $5,100 - A copy of Theo's statement of partnership income from the previous year shows that his income earned as an active partner was $340,000. Theo's law firm does not provide pension plans for its partners. - Theo owns a rental property and reported a net rental loss of $3,600 on his 2021 tax return. - Theo owns some farm land in Alberta. There is an oil well located on this land, and Theo receives some resource royalty income each year. In 2021 , Theo earned royalty income of $6,460. - Other relevant information from Theo's 2021 tax return: - Actual amount of ineligible dividends: $12,500 - Interest income: $8,100 - Unused RRSP deduction room at the end of 2021: $700. The following day, the tax partner informs you that the Carters have indicated that they have made the following contributions to various RRSP accounts during 2022. - On March 20, Theo made a $13,500 contribution to his RRSP account at TD Bank. - On July 3, Theo made a $5,000 contribution to a spousal RRSP account for Camille at Royal Bank. - On November 12, Theo made a $3,000 contribution to an RRSP account in his own name at Bank. - On September 3, Camille made a $7,500 contribution to an RRSP account in her own name at Scotiabank. Camille are starting to look forward to retirement and would like professional advice in effectively planning for their retirement. information. payments for the maintenance of her former spouse of $400. Camille indicated that she has always made all required spousal support payments. - A copy of Camille's T4 slip for 2021 shows gross salary of $65,500. From this amount, the employer withheld the following amounts. - Income tax: $15,800 - CPP: maximum for the year (see the Tax Rate sheet) - El: maximum for the year (see the Tax Rate sheet) - Registered Pension Plan (RPP): $2,000 - Pension Adjustment: $4,200 - Other relevant information from Camille's tax return for 2021 is shown below. - Actual amount of eligible dividends: $3,500 - Interest income: $3,600 - Unused RRSP deduction room at the end of 2021: $5,100 - A copy of Theo's statement of partnership income from the previous year shows that his income earned as an active partner was $340,000. Theo's law firm does not provide pension plans for its partners. - Theo owns a rental property and reported a net rental loss of $3,600 on his 2021 tax return. - Theo owns some farm land in Alberta. There is an oil well located on this land, and Theo receives some resource royalty income each year. In 2021 , Theo earned royalty income of $6,460. - Other relevant information from Theo's 2021 tax return: - Actual amount of ineligible dividends: $12,500 - Interest income: $8,100 - Unused RRSP deduction room at the end of 2021: $700. The following day, the tax partner informs you that the Carters have indicated that they have made the following contributions to various RRSP accounts during 2022. - On March 20, Theo made a $13,500 contribution to his RRSP account at TD Bank. - On July 3, Theo made a $5,000 contribution to a spousal RRSP account for Camille at Royal Bank. - On November 12, Theo made a $3,000 contribution to an RRSP account in his own name at Bank. - On September 3, Camille made a $7,500 contribution to an RRSP account in her own name at Scotiabank