Taxing the nest egg

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. The income of a trust is taxed -

  2. The tax status of trustees is that -

  3. An estimate of the tax payable on the income of a trust must be provided -

  4. The amount of a trust beneficiary's ordinary source is determined by reference to -

  5. The total income of a trust is -

  6. The tax position of ABC Trust's beneficiary D for the year 2007 is -

  7. A trust with a 30 June year end pays income tax -

  8. A trust beneficiary -

  9. When trust income is to be accumulated for minors, income tax is -

  10. When a beneficiary is absolutely entitled to a share of income -