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Answer: Simple trusts can distribute their income and not allowed to make charitable contributions, but complex trusts can and hence in case Michelle’s trust made charitable contributions of $4,800 in 2016, it will be known as a complex trust. The requirements to govern an organization as a simple trust or complex trust is stated in IRC section 651(a). There are few requirements that a trust must fulfil to be classified as a simple trust...Read More
Answer GST Private College c. In terms of Australian tax laws, an entity shall make a taxable supply if following conditions are satisfied: There has been supply of goods/ services for consideration; The supply of goods/services have been carried out in the course of furtherance of an activity / business that it carries on; The supply of such goods/services has a connection with Australia; The entity or enterprise is either registered ...Read More
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