In February 2015, Thomas acquired $150,000 worth of shares in a mutual fund established as a trust in his non-registered account. The net asset value per unit (NAV) was then $19 and the acquisition costs were 2%.

In December 2016, he received a capital gain distribution of $0.75 per unit. The VLPP was then $20.

1. What is the purchase price per unit for the 2015 purchase?
2. How much tax will you pay for the December 2016 distribution, if Thomas's marginal tax rate is 40%?

Answer rating: 100% (QA)

1 Calculating the purchase price per unit for the 2015 purchase The acquisition cost is given as 2 o... View the full answer