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Trust distribution minutes after Bamford

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Uploaded by on Oct 15, 2009

Question: Each year, we accountants have to prepare distribution minutes for our clients Family Trusts. I am not sure how to do this after Bamfords case. What is income of the trust estate; taxable income and net income? I am most concerned with the term share as to the yearly distributions (proportionate vs. quantum). How is this calculated?

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