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a) Kate’s taxable income for 2015 was $72,500. She had a choice between investing $4,325 of her income in RRSP or investing that same amount in a plan that would give her a non-refundable federal tax credit of $750. Which option should she choose? By how much is she better off in tax saving?
b) For a 35-year old individual who hasn’t made any TFSA contribution since2009, what is the maximum contribution that he/she can make this year?
Thanks!!
a) Kate’s taxable income for 2015 was $72,500. She had a choice between investing $4,325 ofher income in RRSP or investing that same amount in a plan that would give her a nonrefundable federal…
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