Contributions to RPPs and RRSPs Are Not Tax Deductible Initially

question 90

True/False

Contributions to RPPs and RRSPs are not tax deductible initially, therefore very few people are interested in using them.

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Definitions:

Middle-aged

The period of life typically ranging from about 45 to 65 years old, marked by transitions in health, social identity, and often career or family roles.

Family Care

Support and maintenance provided to family members, especially those who are elderly, ill, or disabled, by relatives.

Siblings

Brothers or sisters who share one or both parents in common.

Primary Caregiver

An individual, often a parent or family member, who takes the main responsibility for providing care and meeting the daily needs of a child or dependent adult.