During 2018, Austin Peters makes a $1,500 contribution to a new RRSP in which his wife is the registrant. His wife also makes a $2,800 contribution to this RRSP in 2018. During 2019, he makes a $2,000 contribution to this RRSP. During 2020, Mr. Peters' wife makes a withdrawal of $4,300 from this RRSP. How will this withdrawal be taxed?

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The Answer of During 2018, Austin Peters makes a $1,500 contribution to a new RRSP in which his wife is the registrant. His wife also makes a $2,800 contribution to this RRSP in 2018. During 2019, he makes a $2,000 contribution to this RRSP. During 2020, Mr. Peters' wife makes a withdrawal of $4,300 from this RRSP. How will this withdrawal be taxed?

During 2018, Austin Peters Makes a $1,500 Contribution to a New