ADMS 3520 Lecture Notes - Lecture 5: Cape Breton University, Registered Retirement Savings Plan, Registered Education Savings Plan
7 Jun 2017
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Document Summary
The lecture will cover parts of ctp chapter 9 and ctp 10 (mainly on rrsp contributions) Moving expenses: exercise 9-1, self-study problem 9-1. Child care expenses: exercise 9-2, self-study problem 9-2. Rrsp contributions - chapter 10, exercises 10-2, 10-3, 10-6. Ita 56(1)(a)(i) = inclusion section for employer"s registered pension plans (rpp) and government"s old age security (oas) and canada pension plan (cpp) payments received. Ita 56(1)(a)(ii) = inclusion section for retiring allowances received. Ita 56(1)(a)(iii) = inclusion section for death benefits for a deceased employee"s surviving spouse or common-law partner as defined in ita 248(l): 1st ,000 is tax-free and is not a death benefit, the rest is taxable. Income inclusions from deferred income plans [9-20 to 9-21] Rrsps, deferred profit sharing plans (dpsps) and registered retirement income funds (rrifs) and rpps are registered plans. They are registered with the federal government. In order to be registered they must meet certain conditions.
