A client transfers mutual fund units from a non-registered account into their RRSP. Which tax consequence applies?
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A
The transfer is tax-free since it is going into a registered account
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B
The transfer is deemed a disposition at fair market value, triggering any accrued capital gain or loss
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C
Only 50% of any gain is reported because mutual funds are equity-based
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D
No tax applies if the units have been held for more than two years