Which of the following statements are CORRECT about labour sponsored investment funds (LSIFs)? O LSIFS are appropriate for investors with a short-term time horizon. O All provinces offer some sort of additional tax credit for investors. O LSIFS are suitable for investors with a low risk tolerance. Investors will forfeit their tax credits if they redeem their LSIF investment before 8 years have elapsed
Which of the following statements are CORRECT about labour sponsored investment funds (LSIFs)? O LSIFS are appropriate for investors with a short-term time horizon. O All provinces offer some sort of additional tax credit for investors. O LSIFS are suitable for investors with a low risk tolerance. Investors will forfeit their tax credits if they redeem their LSIF investment before 8 years have elapsed
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Which of the following statements are CORRECT about labour sponsored investment funds (LSIFs)?
O LSIFS are appropriate for investors with a short-term time horizon.
O All provinces offer some sort of additional tax credit for investors.
O LSIFS are suitable for investors with a low risk tolerance.
O Investors will forfeit their tax credits if they redeem their LSIF investment before 8 years have elapsed
Transcribed Image Text:Lucas is 60 years old and continues to work. He presently is a plan holder of a registered retirement savings plan (RRSP). He is
considering changing his RRSP to a registered retirement income fund (RRIF).
Which of the following statements is CORRECT?
O There is no minimum age to be an annuitant to a RRIF.
49 C
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O Once he changes his RRSP to a RRIF, his unused total RRSP contribution room is lost
O Minimal withdrawals are required to start in the current calendar year his RRIF was established
O Investments that qualify as an eligible investment for a RRIF are different than for an RRSP
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