Question: Randy is registered as an Indian with Indigenous Services Canada. Randy purchases a GIC from a financial institution orra reserve. When the GIC matures, the

Randy is registered as an Indian with Indigenous Services Canada. Randy purchases a GIC from a financial institution orra reserve. When the GIC matures, the principal and interest are paid into Randy's account on the reserve. Randy lives in Toronto.

The interest income is tax exempt.

True

False

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