TAX QUESTIONS? YOU ASK LAH!

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Q: Is fixed deposit interest earned by a company or an individual subject to tax?

A: Fixed deposit interest earned by a company is subject to tax and should be reported as other income in the income tax return form. However, fixed deposit interest earned by an individual is exempted from tax.


Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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