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Which of the Following Would Produce the Largest Financial Benefit

Question 10

Multiple Choice

Which of the following would produce the largest financial benefit to a tax payer who earns $96000 and is in the forty percent marginal tax bracket and the twenty five percent average tax bracket? Assume that all items are options of equal importance.


A) A $5000 contribution to his/her child's RESP
B) A $5000 medical expenses amount for orthodontics
C) A $5000 contribution to his/her TFSA
D) A $5000 contribution to his/her RRSP

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