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Tag: <span>income tax act</span>

2016 Amendments to the Income Tax Act – Graduated Rate Estates and Qualified Disability Trusts

by Mitchell Rattner Amendments to the Income Tax Act (R.S.C., 1985, c. 1 (5th Supp.)) (“ITA”), which came into effect on January 1, 2016, stipulate that the income and realized capital gains of testamentary trusts will now be taxed at the highest marginal rate (29%), but for two key exceptions. Exception #1: Graduated Rate Estate Graduated Rate Estate […]
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