CRA is non-commital on whether a U.S. revocable living trust could be viewed as an agency relationship

In the course of a general discussion of U.S. revocable living trusts, CRA stated that it is a question of fact whether they would be recognized as trusts rather than agency arrangements for ITA purposes, that s. 75(2) could apply to the grantor, and that if s. 75(2) did not apply, the U.S. taxes imposed on the grantor would not be eligible for a Canadian foreign tax credit if the income of the trust was not distributed.

Neal Armstrong. Summaries of 12 July 2016 External T.I. 2014-0560361E5 under s. 104(1), s. 75(2) and s. 126(1).