Estates and trusts
Module 1 | Trusts and estates: Legal and accounting aspects |
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Trusts+• Estates • Estate or trust accounting • Example of accounts of an estate |
Module 2 | Trusts under the Income Tax Act |
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Definition of trust+• Types of trust under the Income Tax Act • Taxation of a trust |
Module 3 | Considerations when setting up a trust |
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Disposition of property to a trust+• Attribution rules • 21-year deemed realization |
Module 4 | Computation of a trust’s income before allocations |
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Taxable capital gains/allowable capital losses+• Pension income • Investment income • Business income • Other income • Deductions |
Quiz 1 |
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Module 5 | Allocation of income to beneficiaries |
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Overview+• Income payable • Taxation of beneficiaries • Taxable benefits |
Module 6 | Taxable income and income taxes payable |
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Taxable income+• Taxes payable • Non-resident beneficiaries |
Module 7 | Income and capital interest in a trust |
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Income interest+• Capital interest • Clearance certificates |
Module 8 | Family trusts and GST issues |
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Family trusts+• Henson trusts • Management trusts • Goods and services tax |