TSEM7023 - Tax Cases: Cunard's Trustees v CIR 27 TC 122
Summary
Under the terms of a trust, the trustees were required to make payments out of capital to supplement the income of the beneficiary.
Decision
»Ê¹ÚÌåÓýapp payments were income when received by the beneficiary. »Ê¹ÚÌåÓýapp payments were a new source of income.