Question
By giving assets away Attribution Rules are in effect. For each of the following scenarios assume the 'Giftor' is gifting non-registered capital assets. Indicate if
By giving assets away Attribution Rules are in effect. For each of the following scenarios assume the 'Giftor' is gifting non-registered capital assets. Indicate if a deemed disposition occurs and who the investment income is taxable to.
1) Gifting to adult children
a) Is there an immediate deemed disposition, yes (y) or no (n)? Blank 1
b) Who is the dividend and interest income taxable to, giftor or recipient? Blank 2
c) Who is future capital gains taxable to, giftor or recipient? Blank 3
2) Gifting to minor children
a) Is there an immediate deemed disposition, yes (y) or no (n)? Blank 4
b) Who is the dividend and interest income taxable to, giftor or recipient? Blank 5
c) Who is the future capital gains taxbale to, giftor or recipient? Blank 6
3) Gifting to a spouse
a) Is there an immediate deemed disposition, yes (y) or no (n)? Blank 7
b) Who is the dividend and interest income taxable to, giftor or recipient? Blank 8
c) Who is the future capital gains taxbale to, giftor or recipient? Blank 9
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