When a taxpayer holds a purchased annuity (S10A) and the annuity is paid out to the taxpayer then the capital portion of the annuity will be included in the taxpayers Gross income but will then be exempt as it is not taxable.Question 19Select one:TrueFalse
Question
When a taxpayer holds a purchased annuity (S10A) and the annuity is paid out to the taxpayer then the capital portion of the annuity will be included in the taxpayers Gross income but will then be exempt as it is not taxable.Question 19Select one:TrueFalse
Solution
False
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