Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Weir family trust is an inter vivos trust with one beneficiary. The beneficiary is 25 year old Marcus Weir, the son of the settlor.
The Weir family trust is an inter vivos trust with one beneficiary. The beneficiary is 25 year old Marcus Weir, the son of the settlor. During 2015, the trust had the following income:
Eligible dividends from publicly traded Canadian corporations $ 50,000
Non-eligible dividends from a family owned CCPC 200,000
Capital gain from share sale 30,000
The non-eligible dividends and capital gain are distributed to Marcus. By how much will Marcus Net Income for Tax Purposes increase as a result of this distribution?
| $251,000. | ||
| $291,000. | ||
| $215,000. | ||
| $280,000. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started