Version History

This page records revisions made after the official release of The Wisdom of CLEC. Version scheme Vx.y.z: X = release stage, Y = cross-day revision, Z = revision count (each fix counts as one; resets each day).

Special thanks to the following readers and community members for their corrections, supplements, and fact-checking: Chris, Alang, Zoe, Nike Chu, 放輕鬆, and 台中-江東尼.

V1.2.2 (2026-07-08)

• CH06 / CH08 / CH15: exponents and the weighting formula now use real superscript/subscript typesetting — some had been written with Unicode superscript/subscript glyphs the body font lacks and broke in the PDF; all are now set with HTML sup/sub (e.g. 1.12⁴⁰, Σw_i², (1+r)^N). (CH06 reported by reader 台中-江東尼)

V1.1.11 (2026-07-07)

• CH08: erratum in the 00757/00662 weed-out-mechanism table — “pulling the flowers and planting the weeds” reassigned to the 00757 column (the flaw of its equal-weight design). (reader Nike Chu)
• CH17: overseas-income threshold table — added “(voluntary filing allowed)” to the “not included” tier. (reader Nike Chu)
• CH17: loss-offset rule corrected — the buy-sell price spreads of both stocks and bonds are category-76 property-transaction income and can offset each other; dividends (71), interest (73), and property-transaction income (76) are different categories that cannot offset one another, with no cross-year carryforward of losses. (reader Nike Chu)
• CH17: QQQI tax cell aligned to “fully included at NT$1M; AMT only when the basic income amount after inclusion exceeds NT$7.5M”; ROC ratio updated per NEOS Form 8937 (about 95.8% in 2024, about 99% in 2025). (reader Nike Chu)
• CH17: clarified that the NT$7.5M is the basic income amount’s shared exemption, not exclusive to overseas income — high earners’ tax-free room can exceed NT$7.5M while middle brackets fall below it (case-by-case; consult an accountant). (reader Nike Chu)
• CH17: threshold-wording fix — the “>NT$7.5M taxed” tier relabeled from “overseas income” to “basic income amount” (the NT$1M inclusion threshold remains overseas income). (reader Nike Chu)
• CH17: QQQI paragraph rewritten — separating the “distribution source (option premium / §1256 capital-gain character)” from “what the investor receives (characterized as ROC after loss harvesting),” to avoid contradicting “distributions are predominantly ROC.” (reader Nike Chu)
• Appendix 6 (Alang, EP139): “three layers of cash” corrected to “30% in cash” per Alang. (reader Alang)

V1.0.12 (2026-07-06)

• Front matter / Copyright page: relaxed to let readers freely print, photocopy, and share for personal, non-commercial purposes (with a Facebook-page contact added).
• Front matter / Disclaimer: U.S. tax credentials unified to “U.S. CPA, U.S. EA (IRS Enrolled Agent).” (reader Zoe)
• CH01: wording fix — “turn off recommendation feeds” changed to “turn off phone push notifications and social platforms’ auto-push.” (reader Chris)
• CH01: compounding-example erratum — “NT$10,000 a month” corrected to the book’s original “NT$14,000 a year (about NT$1,200 a month)” (Huang Pei-yuan, The Bible of Personal Finance). (reader 放輕鬆)
• CH01 / Figure 1-6: added a “Years 1-40 cumulative = NT$102.81M” total bar. (reader 放輕鬆)
• CH17: tax-accuracy corrections — sub-brokerage holding US-issued targets still incurs US estate tax (an enforcement gap, not an exemption); the supplementary premium applies only to distributions sourced from dividends (54C)/interest (5A), not to capital gains or the income-equalization reserve; clarified that overseas income is “fully included at NT$1M, with filing required only when the basic income amount after inclusion exceeds NT$7.5M”; QQQI distributions are predominantly ROC (return of capital), not dividends. (reader Nike Chu; suppl. Chris)
• CH17: overseas income is recognized in the “year of realization,” unrelated to remittance timing — removed the erroneous/illegal “control remittance to zero out tax” framing, replaced with legal realize-across-years (gain harvesting) plus an evasion warning. (reader Nike Chu)
• CH18: CNDX.L (Irish UCITS) corrected to “exempt from US estate tax; still 15% US dividend withholding at the fund level (US–Ireland treaty), no second withholding at the investor level.” (reader Nike Chu; suppl. Chris)
• Appendix 6 (Alang’s Leveraged-2× Life Strategy): fixed a garbled transcription in the EP129 quote and trimmed a colloquial filler, matching the revised Chinese master. (reader Alang)