Question
QUESTION2.3 (Assessmentoftrustnetincome) TheestateofthelatePhilScoldderivednetincomeof$100,000duringthe 2021/22 taxyear. TheWillofthedeceasedprovidedthat90%ofanynetincomeoftheestate was tobedistributed equallytoeachofhisthreechildren, Eric,Derek,andMerrick,noneofwhomareunderalegaldisability. Thebalanceis notsubject to anypresent entitlement. Who isassessedforthenetincomeofthetrust? WhichsectionsoftheActapplyinmakingtheseamountsassessable?
QUESTION2.3 (Assessmentoftrustnetincome)
TheestateofthelatePhilScoldderivednetincomeof$100,000duringthe
2021/22 taxyear.
TheWillofthedeceasedprovidedthat90%ofanynetincomeoftheestate was tobedistributed equallytoeachofhisthreechildren, Eric,Derek,andMerrick,noneofwhomareunderalegaldisability.
Thebalanceis notsubject to anypresent entitlement. Who isassessedforthenetincomeofthetrust?
WhichsectionsoftheActapplyinmakingtheseamountsassessable?
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Business Law Today The Essentials
Authors: Roger LeRoy Miller, Gaylord A. Jentz
9th Edition
ISBN: 9780324786156, 324786344, 324786158, 9780324786347, 978-0324786156
