SearchTrust funds
Adam asks:
(updated on Wednesday, June 13th 2018)
I have a property in a Trust. Is it possible to depreciate the property and be able to access the the funds or will they remain in the Trust?
Our Experts Answer:
Buildings are no longer depreciable, only the chattel items rented with them can now be depreciated, irrespective of the ownership arrangement for the property. Income derived by a Trust is, in the first instance, Trust income. But, subject to distribution by the Trustees, income can be distributed to eligible beneficiaries of the Trust.
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