Income Taxes Payable - Trusts
KNOWLEDGE EXPECTED OF: CFP® Professionals Only
- Identify the deadline by when a trust is required to pay income tax owing.1
- Explain the reason why a trust may be required to make installment payments.
- Identify the current income tax rates for a trust.
- Federal taxes
- Provincial/Territorial taxes
- Estimate the combined income tax rates for a trust.
- Marginal tax rate
- Average tax rate
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