Beneficiary income definition

Beneficiary income means any amount paid by a trust to a beneficiary of the trust other than a distribution of the corpus of the trust.
Sample 1Sample 2Sample 3
Beneficiary income means any amount paid by a trust to a beneficiary of the trust other
Sample 1

Examples of Beneficiary income in a sentence

  • In the event that the assets and income of the AFT account are insufficient to pay for the special needs of the Life Beneficiary, income accumulated in the Alabama Family Trust Charitable Trust may be available to meet some of the special needs of the Life Beneficiary.

  • Beneficiary income is taxed according to the normal rules about residence and source, though there is a special rule in relation to beneficiaries who cease to be resident in New Zealand and become resident again within five years (see [436]).

  • The appropriate Investment Portfolio (or Portfolios) for each Account Owner is (are) a function of multiple factors, including age (of Beneficiary), income, length of time before money is used, and tolerance for investment risk.

  • This has resulted in inaccurate leveraging data for the CDBG program.– Beneficiary income data is inaccurate.

  • Figure 18: Income of trusts (year ended March, in dollar millions) 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 01994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007* Beneficiary income Trustee income * The data for the year ended March 2007 is at October 2008 and incomplete.

  • Penetration, skimming or hybrid pricing strategies belong to this dimension.

  • Beneficiary income they receive from any trust will be taxable in New Zealand, at their normal income tax rates.To calculate normal income tax rates the trustee must first calculate the tax payable on the total taxable income of the beneficiary and then determine the portion referable to just the beneficiary’s income and taxable distributions.

  • Beneficiary income is defined in s YA 1 by reference to its meaning in s HC 6 and then classified as income of the beneficiary under s CV 13(a).

  • Beneficiary income is included in the income of the beneficiary and, if assessable, is subject to tax at the beneficiary’s marginal tax rate.

  • Income derived by a trustee is “beneficiary income” if the requirements in s HC 6 (Beneficiary income) are satisfied; otherwise, the income will be “trustee income”.

Related to Beneficiary income

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • land reform beneficiary , in relation to a property, means a person who -

  • Beneficiary Designation Form means the form established from time to time by the Plan Administrator that the Executive completes, signs, and returns to the Plan Administrator to designate one or more Beneficiaries.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Beneficiary designation means the naming in a governing instrument of a beneficiary of an insurance or annuity policy, of an account with POD designation, of a security registered in beneficiary form (TOD), of a pension, profit-sharing, retirement, or similar benefit plan, or of another nonprobate transfer at death.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.