Friday, 24 June 2016

Q&A: What are the Tax Requirements for UITF?

A Anyone visiting my blog asked:
What are the tax requirements for UITF? In case of death of the owner, is it treated the same way as a bank account?
Here's my reply:
Taxes to be paid for buying and selling UITFs are already incporporated in the Net Asset Value per Unit (NAVPU), so no need to worry about that. In case of death, UITFs are subject to estate tax, similar to bank accounts.
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