Family trusts face new limits: Cousins & non-relatives no longer eligible as 'beneficiaries'

The recent tribunal ruling mandates that family trusts cannot add non-relatives as beneficiaries without facing tax implications. The decision affects the flexibility of trusts in succession planning, emphasizing that partnership interests qualify as shares and are taxable under section 56(2)(x).

from News-Economic Times https://ift.tt/xzuatXc
via IFTTT

Comments

Post a Comment

Popular posts from this blog

School Assembly Headlines for August 21: Top national, international, sports and business updates

The Lok Sabha is considering bills to remove officials facing serious charges and regulate online gaming. Internationally, Israel plans to conquer Gaza City, while Trump's White House joins TikTok. In sports, Kohli and Sharma's brief removal from ICC rankings caused a stir, and the Boxing Federation of India prepares for elections. from News-Economic Times https://ift.tt/MxEPDno via IFTTT
Read more

Oktoberfest 2025 begins this weekend: Dates, location, timings, tickets price, packages and all details

Oktoberfest celebrations are set to begin across America. Cities are gearing up for beer, bratwurst, and music. Cincinnati, Denver, and Tempe are among the cities hosting festivities. Frankenmuth and Helen are also preparing for the German festival. Leavenworth and La Crosse will offer unique Oktoberfest experiences. Celebrations will run from September through October. from News-Economic Times https://ift.tt/Fe3h2dk via IFTTT
Read more

Peace clause invoked 6th time to offer rice subsidies

India has invoked the peace clause at the WTO for the sixth time after exceeding the 10% subsidy ceiling for its rice farmers, reaching around 12% with $6.81 billion in subsidies. The country explained that the support is aimed at ensuring food security for its poor and vulnerable population. from News-Economic Times https://ift.tt/4ecKWFt via IFTTT
Read more