Tax questions? You ask lah! #22

Published: Wed, 05/12/21

Tax questions? You ask lah!

Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!

Q:
Do I need to declare the profit earned from unit trust?

A:
Gain from selling of unit trust investment is not taxable as it is a capital gain. The gross dividend from unit trust stated in the dividend voucher is taxable and has to be declared. However, the taxed amount stated in the dividend voucher is a credit that can be claimed under S. 110 of the Income Tax Act 1967.

Q:
Is EIS taxable?

A:
The financial assistance received from EIS is not taxable.

Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!

P.P.S. If you're liking these little tips, you can't imagine how much you'll get out of my course! View the course here: bit.ly/youaskzenlah

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