Max retired in 2020 and received a $100,000 retiring allowance. Max…

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Question Answered step-by-step Max retired in 2020 and received a $100,000 retiring allowance. Max… Max retired in 2020 and received a $100,000 retiring allowance.  Max worked for his employer for the past 18 years and always contributed the maximum he could to his RRSP so he has no unused RRSP contribution room.  He never belonged to a registered pension plan or a deferred profit sharing plan during any of those years.  What is the maximum amount of retiring allowance that Max can shelter from tax by transferring directly into his RRSP? Law Social Science Tax law FIP 502 Share QuestionEmailCopy link Comments (0)