ITNEWS-34-Income Trusts and Subparagraph 132(6)(b)(i) – “its only undertaking was the investing of funds.”

Income Trusts and Subparagraph 132(6)(b)(i) – “its only undertaking was the investing of funds.” Subparagraph 132(6)(b)(i) requires that the trust’s only undertaking be the investing of its funds in property (other than real property). However, that phrase (“only undertaking was the investing of funds”) is not defined in the Act, and the tax community has […]

ITNEWS-34-Income Trusts and Subparagraph 132(6)(b)(i) – “its only undertaking was the investing of funds.” Read More »