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At the end of last year, David had unused RRSP contribution room of $2,500. Last year, he had earned income of $80,000 and he was a member of his employer's defined benefit pension plan, which will provide a benefit of 1.5% of average earnings for each year of service. This year, David made an additional contribution to the pension plan to purchase past service credits and this resulted in a past service pension adjustment (PSPA) of $2,700. If the RRSP dollar limit was $24,930 for last year and is $25,370 for this year, how much can David contribute to his RRSP for the current year?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
This report is specific for a core understanding for Financial Accounting and its relevant factors.
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