Trusts fundamentals
Issued by
The Tax Institute
The earner has demonstrated an understanding of the legal concepts and definitions that are core to the existence of trusts, the different types and forms of trusts that exist and the fundamentals of how trusts are subject to the income tax law.
- Time Hours
- Cost Paid
Skills
- Beneficiary entitlements
- Non-resident beneficiary
- Taxation of trust estates
- Trustee's duties
- Trust income
- Trust net income
- Trusts fundamentals
- Types of trusts
Earning Criteria
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Explain general trust principles.
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Calculate the net income or loss of a trust estate.
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Determine the taxation treatment of the distribution (or non-distribution) of the net income of a trust estate.
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Earners complete 10 hours of online, self-paced, interactive learning, incorporating interactive examples, knowledge checks, case studies and a comprehensive activity.
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Successful completion of two online, multiple-choice assessments: Assessment 1: 20 multiple-choice questions within 60 minutes. Assessment 2: 6 scenario-based multiple-choice questions within 45 minutes.