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Estates and trusts

Module 1 Trusts and estates: Legal and accounting aspects
Trusts+

• Estates

• Estate or trust accounting

• Example of accounts of an estate

Module 2 Trusts under the Income Tax Act
Definition of trust+

• Types of trust under the Income Tax Act

• Taxation of a trust

Module 3 Considerations when setting up a trust
Disposition of property to a trust+

• Attribution rules

• 21-year deemed realization

Module 4 Computation of a trust’s income before allocations
Taxable capital gains/allowable capital losses+

• Pension income

• Investment income

• Business income

• Other income

• Deductions

Quiz 1
Module 5 Allocation of income to beneficiaries
Overview+

• Income payable

• Taxation of beneficiaries

• Taxable benefits

Module 6 Taxable income and income taxes payable
Taxable income+

• Taxes payable

• Non-resident beneficiaries

Module 7 Income and capital interest in a trust
Income interest+

• Capital interest

• Clearance certificates

Module 8 Family trusts and GST issues
Family trusts+

• Henson trusts

• Management trusts

• Goods and services tax