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On April 1, 2019 Mrs

Question 55

Multiple Choice

On April 1, 2019 Mrs. Wu contributed $1,000 to her RRSP. On October 1, 2019 Mr. Wu contributed $1,000 to the same RRSP in his wife's name. On June 1, 2020 Mrs. Wu withdrew $1,600 from her RRSP. As a result of the withdrawal:


A) Mrs. Wu's 2020 taxable income increased by $1,600.
B) Mr. Wu's 2020 taxable income increased by $1,600.
C) Mrs. Wu's 2020 taxable income increased by $800 and Mr. Wu's increased by $800.
D) Mrs. Wu's 2020 taxable income increased by $600 and Mr. Wu's increased by $1,000.

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