Before the End of the Year in Which You Have

question 22

Multiple Choice

Before the end of the year in which you have your 71st birthday

• A)you must transfer your RRSP assets to a RRIF.
• B)the assets inside your RRSP must be converted to cash and placed in a RRIF.
• C)you must pay tax on the profits sheltered in your RRSP.
• D)you must start annual withdrawals of 18 percent of the value of your RRIF.

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Definitions:

World Bank

A global financial entity that offers loans and grants to poorer nations' governments to help them undertake capital projects.

Fine Particulate Levels

The concentration of tiny particles or droplets in the air, such as dust, dirt, soot, or smoke, which can pose serious health and environmental risks.

WHO Guidelines

Established advice by the World Health Organization on health practices, including disease prevention, management, and public health strategies.

Air Pollution

The presence of substances in the atmosphere that are harmful to the health of humans and other living beings, or cause damage to the climate or materials.