The final tax return is normally filed within 12 months of the date of death, or on April 30th of the following year, whichever is later.

Select one:

True

False

If you held a bond with face value of $10,000 maturity in 16 years, semi-annual coupon of 5 percent, and the coupons on par value bonds with the same maturity today are 3 percent, how much would your bond be worth now on the secondary market?

a.

$12,512

b.

$12,527

c.

$18,843

d.

$10,000

Bond interest is exempt from income tax (in the current year) if it is held in an RRSP, a TFSA or an RESP.

Select one:

True

False