View Single Post
Old 04-28-2010, 08:58 AM   #1
ah123
First Line Centre
 
Join Date: Oct 2001
Location: Here
Exp:
Default 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?
ah123 is offline   Reply With Quote