TSEM7023 - Tax Cases: Cunard's Trustees v CIR 27 TC 122
Summary
Under the terms of a trust, the trustees were required to make payments out of capital to supplement the income of the beneficiary.
Decision
The payments were income when received by the beneficiary. The payments were a new source of income.
TSEM references
TSEM3756, TSEM3758, TSEM3759, TSEM3787
