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What is the rrsp contribution room for han next year

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Reference no: EM132625871

The Financial situation for Hans for the current year is as follows.

  1. annual employment income of $50,000
  2. $630 interest earned on Canada savings bonds
  3. $15,000 from a business in which he is a limited partner
  4. business losses from a part-time home based business of $7,000
  5. $1000 RRSP carry-forward contribution room
  6. $13000 in alimony payments made to his ex-wife

Problem 1: What is the RRSP contribution room for Han's next year?

Option 1: $4,500

Option 2: $5,400

Option 3: $6,400

Option 4: $9,100

Reference no: EM132625871

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