Sign welcoming visitors to the town of Duncan, on Vancouver Island, British Columbia. Duncan (pop. 4,932) is a city on southern Vancouver Island in British Columbia, Canada. It is the smallest city by area (2.07 square kilometres, 0.8 square miles) in the nation.he Coast Salish men and women of the Cowichan Tribes are makers of the world famous Cowichan Sweaters. Duncan is home to the BC Forest Discovery Centre. Before the CanadaâUnited States softwood lumber dispute, Duncan and the whole Cowichan Valley were a thriving lumber centre in British Columbia.
Withdrawals made after age 59 and 1/2 are normal retirement withdrawals and are not taxed. You paid tax on that income when you first contributed to the Roth IRA. If the withdrawal is made before age 59 and 1/2 and is only up to the amount that has been contributed to the Roth IRA then no income tax is charged. Withdrawals of contributions are tax-free.
The basic idea behind Roth IRAs is to take only distributions that qualify for exemption from tax. Inevitably, though, some people will need to take taxable distributions. This page explains how these distributions are taxed, and what circumstances will permit you to avoid the penalty on early distributions.xample: You withdraw money from a Roth IRA to pay qualified higher education expenses for your child. You pay no tax until the total amount you withdraw exceeds the total amount of your contributions.