a) The trustee of an MIT distributes $55,000 of the trust's net income for the 2018/19 income
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a) The trustee of an MIT distributes $55,000 of the trust's net income for the 2018/19 income year to a unitholder who is a resident in the United Kingdom. The distribution comprises interest of $40,000 and the balance $15,000 represents a find payment. Explain tax implications of the distribution.
b) What is the aim of the international transfer pricing rules? What is a sham and what is the effect of a sham? Explain your answer.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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