Question: Part A (a & b). [8 marks] rred assets is a partnership interest? uming Problem 7 Idio Part A For each of the following trusts

Part A (a & b). [8 marks]

Part A (a & b). [8 marks] rred assets is a

rred assets is a partnership interest? uming Problem 7 Idio Part A For each of the following trusts settled by Mrs. A explain: The tax consequences of the transfer of property by Mrs. A to the trust; - The rate of tax payable by the trust; - The tax consequences of the transfer of property from the trust to the beneficiary (a) On June 1, 2019, Mrs. A settled a painting on her daughters, B and C, in trust for her grandchildren. The painting has a cost to Mrs. A of $500 and a fair market value of $7,000. (b) Mrs. A provides in her will that her shares of ABC Co. are to be held in trust for her grandchildren. These shares have a cost to Mrs. A of $10,000 and a fair market value of $35,000

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