What statement pertaining to a RRIF is correct? a) The earliest age a RRIF...

70.2K

Verified Solution

Question

Finance

What statement pertaining to a RRIF is correct?
a) The earliest age a RRIF can be established is the year in which the annuitant turns 71 years of age.
b) Generally, where a child of the annuitant is named as the beneficiary under a RRIF, the designated benefit he or she receives following the death of the annuitant is taxable to the deceased annuitant.
C)Unlike an annuity, establishing a RRIF guarantees the annuitant will receive an income stream for the duration of his or her life.
d)The common shares of a publicly traded company and the shares of a precious metals mutual fund are ineligible investments for purposes of a RRIF.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students