Common use of Income Tax Legislation Clause in Contracts

Income Tax Legislation. Since the provisions of the Income Tax Act (Canada) and any other legislation imposing taxation consequences on the Subscriber are complex and since the general effect of the aforesaid legislation (including their effect in the event of the death of the Subscriber or the sale of a Unit by or to the Subscriber) depends on the particular circumstances of each party, the Subscriber does hereby expressly acknowledge that it has been advised to seek independent