Which of the following is correc correct with respect to the taxation of a trust? ITA 104(2) states that trusts are subject to the same graduated or progressive tax rates as individuals. ITA 104(2) states that the calculation of net income and taxable income is the same for both trusts and individuals. (ITA 104(2) states that trusts are taxed in the same manner as individuals, but there are some important differences between how individuals and trusts are taxed and special rules that apply to trusts. ITA 104(2) states that all of the personal tax credits applicable for individuals are available for trusts