24 Manjinder invested $30,000 in a segregated fund account designated as a TFSA. The fund provides him with 100% maturity and death benefit guarantees. Due to the markets performing badly, the account is held on $25,000 on maturity. The insurer, therefore, tops up his account value with $5,000 when he cashes out on the maturity of his contract. What is the tax implication of the $5,000 top-up paid by the insurer? a. Assuris does not define the implications of a top-up guarantee b. O Manjinder will have a capital loss of $5,000 and $5,000 income for tax purposes. co Manjinder can decide how he wants to report the 55,000 top-up received from the insurer d. The $5,000 top-up received for guarantees required for a TFSA is not taxable