Complete the "Inputs" section to set the applicable rates and RRSP limits, then complete the income and deductions section to specify your client's taxable income (before RRSP deductions).
The worksheet will output four results, which can guide your quantitative analysis:
- No RRSP deductions (baseline)
- Deduction to clear the highest federal bracket applicable
- Deduction to clear the two highest federal brackets applicable
- Deduction to clear all federal taxes applicable
Each RRSP scenario can be customized as needed to provide results for other relevant amounts.