In Canada, variable annuities are called segregated for seg funds. They are similar to mutual funds, but because they are issued by insurance companies there are differences including maturity and death benefit guarantees.
Withdrawals from a segregated fund are taxed differently depending on the underlying units, the gain could be taxed as a capital gain, interest or dividend income. You would need to confirm with the issuer to be certain.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
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Withdrawals from a segregated fund are taxed differently depending on the underlying units, the gain could be taxed as a capital gain, interest or dividend income. You would need to confirm with the issuer to be certain.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.