What is the maximum that jack can contributes to his tfsa

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Reference no: EM133327687

Question 1 . Sarah owns securities ABC which she paid 2000 for snf has a current FMV 5000, she would like to make in-kind contribution to her daughter RESP this year for entire amount. Her contribution amount will total how much?

Question 2. Justin withdrew $15,000 from his spousal RRIF when the minimum withdrawl was 9000. The fund has not yet been in the plan for 2 full years- the last contribution was the year before his withdrawal. How much will Justin receive?

Question 3. Fred owns securities XYZ which he paid $2,000 for and has a current FMV of $5000. He would like to make an in-kind contribution to his daughters RESP this year for entire amount. How much will Fred need to into his income for tax purpose for the calendar year?

Question 4. Geogre opened up a tax-free saving account when he turned 18 years old in 2016. He contributed $1000 in the year he opened up the account. He never contributed any further fund thereafter. What is the maximum contribution room available if he wishes to maximum his contribution for 2020 (inclusive 2020) and use up all the contribution room available?

Question 5. In the case of RESPs, in-kind contributions to an RESP have a different CESG calculation than regular contribution?

Question 6. Jack contributes the annual maximum to his TFSA each year on Jan 1. In may 2019 he withdrew $10,000. What is the maximum that Jack can contributes to his TFSA no earlier than Jan 1, 2020?

Reference no: EM133327687

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