Scenario 66: A client has a high marginal tax rate and is looking to invest for long-term growth. Which investment category might be most tax-efficient in a non-registered account?

Question: Scenario 66: A client has a high marginal tax rate and is looking to invest for long-term growth. Which investment category might be most tax-efficient in a non-registered account?

Answer options:

• High-interest savings accounts ✅ Dividend-paying Canadian equities
• Interest-bearing GICs
• Foreign income trusts

Correct answer: Dividend-paying Canadian equities

Explanation: Eligible dividends from Canadian corporations receive preferential tax treatment through the dividend tax credit, making them more tax-efficient than interest income for high-income earners in non-registered accounts. The correct answer is "Dividend-paying Canadian equities". This capacity-fill scenario 66 reinforces the same competency for the cfp bank and follows the certified explanation standard.