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Consider a possible tax-deferred merger with another “mutual fund trust” – ITA 132.2. There are significant tax, securities, cost and timing considerations associated with a merger of mutual fund trusts; therefore, the decision to pursue a merger must be carefully analyzed.
Five statutory tests must be satisfied for a trust to qualify as a “mutual fund trust” at any particular time: “T rust” test. “Unit Trust” test. “Resident in Canada” test. “Sole Undertaking” test. “Prescribed Conditions” test.
It will help you understand what a mutual fund is, how to report income, and how to report the sale of mutual fund units or shares. The CRA have included an example to show how to report these activities.
4 kwi 2024 · Trusts: the most common structure for a Canadian investment fund is a trust, formed by executing a declaration of trust (or trust agreement) that sets out, among other matters, the rights and obligations of the trustee and the rights of investors (referred to as the unitholders of the trust).
Read bio. Determining an investment’s capital gain or loss begins with the adjusted cost base (ACB). Understanding how purchase price, distributions, allocations, transfers, gifted assets, and other things affect calculation of ACB can help investors reduce their taxes.
You can receive your mutual fund distributions as either: 1. A cash payment; or 2. A reinvestment in more units at the prevailing unit price. Regardless of which option you choose, you are generally required to include distributions as part of your taxable income for the year in which you receive
