Calculate samsons minimum repayment


Problem

In 2019 Ruby Samson withdrew $24,000 from her RRSP under the Home Buyers' Plan and used the funds for a down payment on a qualifying home. In 2021 she made a repayment of $3,000 and $1,000 in 2022.

Calculate Samson's minimum repayment for 2022 and explain her tax consequences for that year.

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Taxation: Calculate samsons minimum repayment
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