Manal is learning about investment income in her personal income tax course. She is however wondering which statement is true?
Question 19Select one:
a.
Dividend income from Canadian corporations and interest income are taxed the same.
b.
Interest income is not reported on a T5 tax slip as it is the responsibility of the taxpayer to estimate this income and report it on their personal income tax return.
c.
Dividend income from foreign corporations and interest income are taxed the same.
d.
Tax is due on interest income in the year it is received, not the year it is earned.
c.
Dividend income from foreign corporations and interest income are taxed the same.