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Taxation of Beneficiaries Under subsection 104(13) of the Canadian Income Tax Act (“ITA”), the income of a trust or estate that is paid or payable to a beneficiary is taxed …
TRUSTS & ESTATES: How your Beneficiaries are taxed Read More
If capital property of a taxpayer is transferred to a qualifying inter vivos spousal trust, s.73(1) of the ITA permits the property to be transferred at its adjusted cost base. …
Classification of Trusts 1. Testamentary Trusts The Income Tax Act in Canada defines a testamentary trust as a trust or estate that is formed consequent to the death of a tax-paying …
Trusts and Estates: Different Types of Trusts in Canada Read More
