Elie Roth, Tim Youdan, Chris Anderson, Kim Brown, "Taxation of Beneficiaries Resident in Canada", Chapter 4 of Canadian Taxation of Trusts (Canadian Tax Foundation), 2016.

Purpose (p. 265)

[S]ubsection 107(1.2))…is intended to prevent the beneficiary from realizing a loss on the valuation of the trust interest as a...

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Example of sale of ½ of capital interest plus ½ of right to enforce income payment (p.271)

[A]ssume that a beneficiary's capital interest in a...

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CRA requirement that a devisee formally assume the mortgage (p. 284)

The CRA has-also taken the position that when an inter vivos trust (or...

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Limitations of s. 107(2.002) election (pp. 303-4)

The effect of making an election under subsection 107(2.002) in respect of a distribution of a...

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Exclusions for capital and income distributions and application of FX gains thereto (p. 306, 308)

[A]lthough these amounts are excluded from the...

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Effect of s. 107(2.11) election (p. 314)

[A]ccordingly, in the absence of an election under subsection 107(2.11), the portion of the trust's...

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Effect of ss. 94(8.1) and (8.2)

By deeming the relevant transfers and loans not to be arm's-length transfers (as otherwise defined in subsection...

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Requirements for valid disclaimer of income interest (p. 340)

A taxpayer who executes a valid disclaimer of an income interest in a trust is...

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Personal-use property of the trust (p. 358)

[T]he CRA has adopted the administrative position that when property owned by a trust was or would...

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