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Capital and Income in Trusts
Great Britain. Law Commission
其他書名
Classification and Apportionment
出版The Stationery Office, 2009
主題Business & Economics / ReferenceLaw / GeneralLaw / Administrative Law & Regulatory PracticeLaw / Estates & Trusts
ISBN01029594719780102959475
URLhttp://books.google.com.hk/books?id=enKFjyAfm4QC&hl=&source=gbs_api
EBookSAMPLE
註釋Trusts are important to the national economy and provide a range of benefits to individuals and charitable purposes. This project affects charitable and private trusts which are set up in a way which distinguishes capital and the income it produces. The project was referred to the Law Commission as a result of concerns about current trust law raised during the passage of the most recent piece of trust legislation - the Trustee Act 2000 - through Parliament. The Law Commission was asked to consider, in particular, the rules governing the classification of trust receipts as income and capital, the circumstances in which trustees must apportion receipts and outgoings between income and capital, and the rights and duties of charity trustees in relation to investment returns on a charity's permanent endowment. In its report, the Commission recommends the abolition of the equitable and statutory rules of apportionment for all new trusts and the introduction of a new rule of classification for tax-exempt corporate demergers. It also recommends a new statutory provision that will make total return investment more easily accessible to charitable trusts with a permanent endowment. These recommendations follow extensive consultation (Consultation paper 175, 2004, ISBN 9780117302617) and have been welcomed by the Trust Law Committee.