Transferring Income

Transferring Income - plans, and so on - may not be taxable...

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Transferring Income to Another Entity * Only individuals can enjoy the beneFts of accumulating wealth; however, they can do so by using several different entities, all of which ultimately lead back to themselves or to members of their families * A trust can be created during one's lifetime or upon death * Some trusts - registered pension plans, registered retirement savings
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Unformatted text preview: plans, and so on - may not be taxable * There are many non-tax reasons for choosing a particular structure to carry out certain Fnancial activities but the tax factor is always an important one * Shifting income to another entity may reduce or signiFcantly delay the amount of tax otherwise payable...
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This note was uploaded on 02/05/2012 for the course ACC 522 taught by Professor A.vena during the Spring '11 term at Ryerson.

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