Which is the maximum rrsp deduction that sharon can claim

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Reference no: EM133983264

Problem

Sharon is a member of her employer's money purchase Registered Pension Plan (RPP). Sharon's 2023 earned income was $70,000, and her employer indicated that her 2023 pension adjustment (PA) is $3,000. At the end of 2023, Sharon had no Registered Retirement Savings Plan (RRSP) deduction room carryforward, nor any undeducted contributions available to carry forward. Get the instant assignment help. The RRSP dollar limit for 2024 is $31,560. On May 15, 2024, Sharon contributed $6,000 to her RRSP. Sharon contributed a further $6,100 on January 3, 2025. Which is the maximum RRSP deduction that Sharon can claim on her 2024 personal tax return?

Reference no: EM133983264

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