z_Trusts & Estate Planning

Taxing beneficiary income of minors at 33% rate

Tuesday 17th of October 2000

Summary of proposed amendment

Certain distributions of beneficiary income to a child under the age of 16 years will be taxed at a final tax rate of 33%. This minor beneficiary rule is aimed at ensuring that families with a trust do not gain a tax advantage over families without a trust.

 ...

Want to read the full article?
Click the button below to subscribe and will have unlimited access to full article and all other articles on the site.