CRA expands its discussion of income interest transactions

The CRA Folio on dispositions of income interests in trusts expands significantly on the discussion in IT-385R2, including providing an example illustrating the consequences of the gift by an income beneficiary of a personal trust of his income interest to his son.  The previous delineation of the distinction between a disclaimer and a release has been retained.

Neal Armstrong. Summaries of S6-F2-C1: "Disposition of an Income Interest in a Trust" under s. 106(2) and s. 106(1).