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10.3.12 Assessing the Income of & Distributions from a Private Trust or Company - From 01/01/2002
In this section
This section contains information on the assessment of income of a controlled private trust or controlled private company. It also contains information on the treatment of distributions of the capital and income of a controlled private trust or controlled private company.
According to section 5H of the VEA income is:
- an amount earned, derived or received by a person for the person's own use or benefit;
- a periodical payment by way of gift or allowance; or
- a periodical benefit by way of gift or allowance.