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Selena is doing some estate planning. She recently transferred her $150,000 investment portfolio in trust to her 17 year old granddaughter Elizabeth. The adjusted cost
Selena is doing some estate planning. She recently transferred her $150,000 investment portfolio in trust to her 17 year old granddaughter Elizabeth. The adjusted cost base at the time of the transfer was $100,000. In the year following the transfer, the portfolio earned dividends amounting to $7,500. What is the tax impact of these events to both Selena and Elizabeth ?
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The tax impact of the events to both Selena and Elizabeth can be summarized as follows For Selena 1 ...
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Introduction To Federal Income Taxation In Canada
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
33rd Edition
1554965020, 978-1554965021
