Nonprescribed Annuity

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compare with a prescribed annuity

heavier tax burden in early years
interest portion is like a mortgage (early payments mainly interest, later payments mainly capital)
as annuity grows and annual income is taxed, corresponding adjustment to annuitant’s ACB
interest on loan to buy annuity for business or investment income may be tax-deductible
same total amount of taxable income as a prescribed annuity, but the timing differs

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annuities

page revision: 3, last edited: 28 Jul 2007 20:18

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