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Miguel works as a personal financial planner. He is in the process of helping some of his clients prepare their tax returns for the year.

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Miguel works as a personal financial planner. He is in the process of helping some of his clients prepare their tax returns for the year. In particular, Miguel is determining the tax treatment of various investments. What statement about the taxation of investment income is INCORRECT? a) Periodic interest income paid annually must be reported in the year in which it is received. b) Dividend income from a taxable Canadian corporation is fully taxable and does not allow an deductions for tax purposes

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