Page 29 - Taxation P6 - Lecture day 2 Notes - Trust
P. 29
Section 7(5)
Subject to a condition to the effect that the
beneficiaries shall not receive the income or
some portion thereof until the happening of
such stipulation or condition (therefore applies
to income retained in a discretionary trust).
Donation
TRUST
Donor
Donor is
taxed
Beneficiary
29
