Section 89: Rights over income retained
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
89. Rights over income retained
Where a person sells property or any right to income to a relative and
retains or obtains the power to enjoy income arising from that property or
from that right or retains or obtains the right to dispose of, or direct, or
control the disposition of that income or of that property or right, the income
shall be deemed to be income derived by the transferor, and by no other
person, as if the sale had not taken place.
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Questions this section answers
- If I sell property to a relative but keep control over the income it produces, am I still taxed on that income?