IFIC Mutual Funds Licensing Practice Exam · Question
An investor's T3 slip shows income from a mutual fund. Which of the following income types is typically NOT reported on a T3 slip?
Labour-sponsored fund tax credits are a specific type of tax credit claimed by investors on their personal income tax return (T1), not an income distribution re
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Question: An investor's T3 slip shows income from a mutual fund. Which of the following income types is typically NOT reported on a T3 slip?
Answer options: ✅ Labour-sponsored fund tax credits
- Capital gains
- Interest income
- Eligible dividends
Correct answer: Labour-sponsored fund tax credits
Explanation: Labour-sponsored fund tax credits are a specific type of tax credit claimed by investors on their personal income tax return (T1), not an income distribution reported on a T3 slip. Capital gains, interest income, and eligible dividends are all types of income distributions reported on a T3. (IFIC Chapter 6: T3 Distributions)
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