Income of the Trust definition

Income of the Trust means for any taxation year of the Trust the net income for the year determined pursuant to the provisions of the Tax Act (other than subsection 104(6) and paragraph 82(1)(b)) having regard to the provisions thereof which relate to the calculation of income of a trust, and taking into account such adjustments thereto as are determined by AdminCo in respect of dividends received from taxable Canadian corporations, amounts paid or payable by the Trust to Unitholders and such other amounts as may be determined in the Discretion of AdminCo; provided, however, that capital gains and capital losses shall be excluded from the computation of net income;
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Income of the Trust means income of the Trust computed for income tax purposes in accordance with the Tax Act, other than paragraph 82(1)(b) and subsection 104(6) thereof and, if an amount has been designated under subsection 104(19) of the Tax Act, such designation shall be disregarded;
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Income of the Trust or "Loss of the Trust" means, for any Taxation Year, the net income or loss for such year determined pursuant to the provisions of the Tax Act having regard to the provisions thereof which relate to the calculation of taxable income of a trust, without reference to paragraph 82(1)(b) (dividend gross-up) and subsection 104(6) (deduction for payments out of the Trust) of the Tax Act (including any income realized by the Trust on the redemption of Trust Units in specie and designated by the Trust as income payable to the redeeming Trust Unitholders) and taking into account such other adjustments as may be determined by the Trust in its absolute discretion (provided that the Trustees exercise their discretion in this regard before the end of the particular Taxation Year); provided, however, that capital gains and capital losses shall be excluded from the computation of net income; and provided further that, if such calculation results in income there shall be deducted the amount of any non-capital losses (as defined in the Tax Act) of the Trust for any preceding years; and the Income of the Trust or Loss of the Trust for any period means the income or loss of the Trust for such period computed in accordance with the foregoing as if that period were the Taxation Year;
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Examples of Income of the Trust in a sentence

  • Accordingly, such expenses are not reflected in the Statements of Comprehensive Income of the Trust.

  • Dividends on shares of a Series of VRDP Shares shall be designated as exempt-interest dividends up to the amount of the Net Tax-Exempt Income of the Trust, to the extent permitted by, and for purposes of, Section 852 of the Code.

  • The Accumulated Net Income of the Trust shall be determined by or on behalf of the Trustees at such time or times as the Trustees shall in their discretion determine.

  • In determining the Income of the Trust Fund as of any date, assets shall be valued on the basis of their then fair market value.

  • TAXATION OF THE FUND The Trust will be regarded as resident for Malaysian tax purposes since the trustee of the Trust is resident in Malaysia.(1) Foreign Investments Income of the Trust in respect of overseas investment is exempt from Malaysian tax by virtue of Paragraph 28 of Schedule 6 of the Act and distributions from such income will be tax exempt in the hands of the unit holders.

  • Notwithstanding the foregoing, the amount of any Net Income of the Trust that is determined by the Trustee to be required to be retained by the Trust in order to pay any tax liability of the Trust shall not be payable by the Trust to Unitholders.

  • In determining the Income of the Trust Fund for any period, assets shall be valued on the basis of their fair market value, as determined by the Trustee.

  • In determining the Net Income of the Trust as of any date, assets shall be valued on the basis of their then fair market value.

  • The Accumulated Net Income of the Trust shall be determined by or on behalf of the Trustees daily or more frequently at the discretion of the Trustees, on each business day at such time or times as the Trustees shall in their discretion determine.

  • To the extent that there is an amount payable under clause 24.1 which is to be paid in priority to the amounts payable to the Beneficiary, the Beneficiary directs the Trustee to meet the amount payable under clause 24.1 as an application of the Beneficiary's entitlement to the Distributable Income of the Trust.


More Definitions of Income of the Trust

Income of the Trust has the meaning given to it in section 5.3.
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Related to Income of the Trust

  • Income trust means a trust that is not a unitrust.

  • Real estate investment trust means any corporation, trust or association qualifying and electing to be taxed as a real estate investment trust under federal law.

  • Loan Fund means the special fund created by the RECIPIENT for the repayment of the principal of and interest on the loan. “Loan Security” means the mechanism by which the RECIPIENT pledges to repay the loan.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Owner Trust means with respect to any Leased Aircraft, the trust created by the "Trust Agreement" referred to in the Leased Aircraft Indenture related thereto.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Virginia real estate investment trust means a real estate investment trust, as defined in 26 U.S.C.

  • the Trusts means the Macfarlane Trust, the Macfarlane (Special Payments) Trust and the Macfarlane (Special Payments) (No. 2) Trust;

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Investment pool means an entity created under the Texas Gov- ernment Code to invest public funds jointly on behalf of the entities that participate in the pool and whose investment objectives in or- der of priority are preservation and safety of principal, liquidity, and yield.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • Plan Trust means the trust governed by the Plan.

  • Match funding or “match share” means cash or in-kind (non-cash) contributions provided by the Applicant/Recipient, subcontractors, or other parties that will be used in performance of the proposed project. Match share percentage is calculated by dividing the total match share contributions by the total allowable project cost. “Total allowable project cost” is the sum of the CEC’s reimbursable share and Recipient’s match share of the project costs. Match share expenditures have the following requirements:

  • the Macfarlane (Special Payments) Trust means the trust of that name, established on 29th January 1990 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia;

  • Pre-Funding Earnings means any Investment Earnings on amounts on deposit in the Pre-Funding Account.

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • the Macfarlane Trust means the charitable trust, established partly out of funds provided by the Secretary of State to the Haemophilia Society, for the relief of poverty or distress among those suffering from haemophilia;

  • Investment Account As defined in Section 3.12(a).

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Grantor Trust means a Trust other than a RIC.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.