Anisha has contributed $2,500 a year to her child’s RESP for the last 5 years. She has received the maximum Canada Education Savings Grant each year and earned $200 in investment income. How much of the RESP balance can be withdrawn tax free? Ignore provincial plans. Select one: a. $15,200 b. $12,500 c. $15,000 d. Zero

Anisha has contributed $2,500 a year to her child’s RESP for the last 5 years. She has received the maximum Canada Education Savings Grant each year and earned $200 in investment income. How much of the RESP balance can be withdrawn tax free? Ignore provincial plans. Select one: a. $15,200 b. $12,500 c. $15,000 d. Zero

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 30MCQ

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