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All annuity payments are a blend of investment capital deposited to the contract by the policy owner and interest earned on that capital.Payout annuities are
All annuity payments are a blend of investment capital deposited to the contract by the policy owner and interest earned on that capital.Payout annuities are taxed depending on the type of income used to fund them, and whether they qualify as being "prescribed."Accumulation annuities are subject to accrual taxation annually during the accumulation phase unless they are held in a registered account.The accumulated value is only received through withdrawal or surrender, or by conversion at maturity to a life annuity, which then issues payments.Listed below are five statements relating to the taxation of annuities All annuities are taxed during the accumulation phase Nonregistered annuities can be taxed on either a prescribed or accrual basis Both interest and capital payments from registered annuity plans are taxable Prescribed annuity income can be indexed There is withholding tax on annuity payments from registered plansWhich of the above statements are true?Select one:abcd
All annuity payments are a blend of investment capital deposited to the contract by the policy owner and interest earned on that capital.Payout annuities are taxed depending on the type of income used to fund them, and whether they qualify as being "prescribed."Accumulation annuities are subject to accrual taxation annually during the accumulation phase unless they are held in a registered account.The accumulated value is only received through withdrawal or surrender, or by conversion at maturity to a life annuity, which then issues payments.Listed below are five statements relating to the taxation of annuities All annuities are taxed during the accumulation phase Nonregistered annuities can be taxed on either a prescribed or accrual basis Both interest and capital payments from registered annuity plans are taxable Prescribed annuity income can be indexed There is withholding tax on annuity payments from registered plansWhich of the above statements are true?Select one:abcd
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