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Which of the following is not a characteristic of exempt income? A. Exempt income reduces the amount of carried forward revenue losses. B. Exempt income

Which of the following is not a characteristic of exempt income? A. Exempt income reduces the amount of carried forward revenue losses. B. Exempt income is tax-free. C. A gift of money from a parent to their child is exempt income. D. Exempt income does give an entitlement to claim some tax deductions. E. Assets that derive exempt income are exempt from capital gains tax.

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