Tim is age 60 and is still working. He has $300,000 in a transition to retirement income stream account. His investments have produced income returns of $10,000 and capital returns of $20,000. The assets that produced the capital returns were owned by the fund for a period greater than 12 months. Which statement is INCORRECT regarding these returns?

Answer rating: 100% (QA)

Answer The incorrect statement is Tim has reached age 60 so earning t... View the full answer