Question
When meeting with a client they relay the following information: In 2020, all members of the company pension plan, including your client, had the opportunity
When meeting with a client they relay the following information:
In 2020, all members of the company pension plan, including your client, had the opportunity to upgrade their pension benefits, resulting in a past service event.Your client has always made the maximum allowable RRSP contributions and they plan to do the same for 2020. In anticipation of you calculating their new RRSP contribution room related to the year 2020 your client has gathered the following information.
Earned Income 2018: $68,850
2019: $72,000
2020: $75,000 (anticipated)
PA 2018: 6,915
2019 : 7,200
2020: 7,500 (anticipated)
PSPA 2018: $0
2019: $0
2020: $3,600
Using the above information calculate your client's RRSP contribution room for the tax year 2020
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