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Tax Attribution Rules

Gift & Loan Attribution Rules

Party / Source Gift No or Low
Interest Loan
Loan at Prescribed
or Commercial Rate
Attribution rules cease upon separation or divorce, death of the contributor, and for Home Buyers Plan and Lifelong Learning Plan participants.
Spouse or Partner
Income Attributed to "giftor" Attributed to lender No Attribution
Capital Gains Attributed to "giftor" Attributed to lender No Attribution
2nd Generation Income No Attribution No Attribution No Attribution
Child Under 18
Income Attributed to "giftor" Attributed to lender No Attribution
Capital Gains No Attribution No Attribution No Attribution
2nd Generation Income No Attribution No Attribution No Attribution
Child Over 18
Income No Attribution Attributed to lender No Attribution
Capital Gains No Attribution Attributed to lender No Attribution

For more information on tax attribution, please contact one of your Edmond Financial Group advisors.