Canadian Income Taxation of Trusts


433 pages
Contains Bibliography, Index
ISBN 0-88796-158-4





Reviewed by Robert B. Shortly

Robert B. Shortly was a chartered accountant in Toronto.


Written by Lloyd F. Raphael, a member of the New Brunswick and Ontario Bars, this book focuses on the interpretation of the basic law of trusts in relation to the various tax provisions affecting such jural entities as powers, rights, and interests in or under a trust, and the various processes of their creation for income tax purposes.

The reader of this technical reference book should be familiar with the basic law of trust. Topics include a comprehensive fiscal definition of a trust, trust property, spousal trusts and attribution, income of a trust, trusts and beneficiaries, interests in trusts, and the computation of taxable income and tax payable. Since only the implications of the November 12, 1981, budget proposals are dealt with, it will be necessary for the reader to integrate the contents of the book with up-to-date legislation.

With the increasing trend for income tax legislation to regulate the law of trusts for income tax purposes instead of regulating the law of income tax for trust purposes, the author’s approach — integrating trust law and income tax via an interpretative analysis — is of value to the reader who is involved in legal and income tax problems. It is definitely not a book for the layman.


Raphael Lloyd F., “Canadian Income Taxation of Trusts,” Canadian Book Review Annual Online, accessed September 23, 2023,