CRA recognizes non-application of s. 75(2) to LP business income allocated to a trust

Where a trust in which the settlor has a reversionary interest holds an LP, s. 75(2) will attribute to her the trust’s share of property income but not business income of the trust. See also 2013-0508841I7 F.

Neal Armstrong. Summary of 3 October 2014 T.I. 2013-0476871E5 under s. 75(2).