Jean and Dan both work. Each earns a salary of $51,000, but only Jean is a member of a registered pension plan. Both she and her employer contribute 2 percent of her gross salary to a defined contribution pension plan. Jean has no unused RRSP room carried forward as she has maxed out her RRSP each year. Dan has $15,000 of unused RRSP contribution room carried forward showing on his Notice of Assessment. Calculate the maximum RRSP contribution that each can make this year. (Omit the "$" sign in your response.)
Jean and Dan both work. Each earns a salary of $51,000, but only Jean is a member of a registered pension plan. Both she and her employer contribute 2 percent of her gross salary to a defined contribution pension plan. Jean has no unused RRSP room carried forward as she has maxed out her RRSP each year. Dan has $15,000 of unused RRSP contribution room carried forward showing on his Notice of Assessment. Calculate the maximum RRSP contribution that each can make this year. (Omit the "$" sign in your response.)
Chapter6: Business Expenses
Section: Chapter Questions
Problem 64P
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Question
Jean and Dan both work. Each earns a salary of $51,000, but only Jean is a member of a registered pension plan. Both she and her employer contribute 2 percent of her gross salary to a defined contribution pension plan. Jean has no unused RRSP room carried forward as she has maxed out her RRSP each year. Dan has $15,000 of unused RRSP contribution room carried forward showing on his Notice of Assessment. Calculate the maximum RRSP contribution that each can make this year. (Omit the "$" sign in your response.)
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT