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Registered retirement savings plan

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Reference no: EM133293410

Question

The maximum amount an individual can contribute to her Registered Retirement Savings Plan (RRSP) for a year is set from time to time by the Regulations of the Income Tax Act. For the year 2013, the maximum contribution was the lesser of $23,820 or 18% of the individual's "earned income" during 2012. What was the maximum RRSP amount that could be contributed in 2013 based on an income of $128,500 in 2012?

Reference no: EM133293410

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