An interest in possession trust with one life tenant has the following income in 2023-24: Expenses were
Question:
An interest in possession trust with one life tenant has the following income in 2023-24:
Expenses were incurred in the year as follows:
(a) Compute the trustees' income tax liability for 2023-24.
(b) How much income does the life tenant receive from the trust in 2023-24 and how will this be treated in his or her personal tax computation?
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a The trustees tax liability for the year is 6600 4660 1800 140 The 1800 ...View the full answer
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