Lecture 5 notes Sept 29

Lecture 5 notes Sept 29 - Taxation of Investment Retu rns o...

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Taxation of Investment Returns o Marginal Tax Rate Definition o Determining an Investor’s Marginal Tax Rate o Types of Investment Returns Taxation of Interest and Example Taxation of Dividends and Example Taxation of Capital Gains and Example Effective Tax Rate Calculations Before and After Tax Rates of Return Interest vs. Dividends vs. Capital Gains: Tax Summary o Which Offers the Best After Tax Returns Alternative Types of Investments o Bonds and Debentures (Page 227-318 LM) o Characteristics of ALL Bonds Face of Value Length of Life/Date of Final Maturity Coupon Rate o The Bond Indenture o The Bond Trustee o The Order of Liquidation Types of Bonds o Secured Bonds
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o Unsecured Bonds Reading Bond Quotations in the Financial Press Calculating Rough Bond Yields. Examples
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Taxation of Investment Returns Marginal Tax Rate o Strict Definition The Tax Rate paid by an investor on his or her last dollar of taxable income earned o More Useful Definition The rate of tax applied to every dollar of taxable income earned within a given tax bracket Determining an Ontario Resident’s Marginal Tax Rate for 2010
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Lecture 5 notes Sept 29 - Taxation of Investment Retu rns o...

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