How do respond to the elderly individual confirming

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Problem 1: In Canada, with taxable income, is subject to income tax. Section 248 defines a "person" to include individuals and corporations. Your client is a wealthy elderly individual who heard that since the definition of a "person" does not explicitly include reference to a trust, the trust's income would not be subject to tax. Citing your authority, respond to the elderly individual confirming whether or not what they heard is true

Reference no: EM132687269

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