Informal Trust accounts
I didn't want to hijack the RESP thread with this, although there is some overlap.
We are considering setting up an informal trust account for our daughter - this is on top of her RESPs.
What I don't understand are the tax implications of such an account - we would be buying mutual funds in this account, but who pays the tax on any dividends/capital gains?
Anyone have experience with this type of account?
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