Under the provisions of the Income Tax Act, only individuals, corporations, and trusts are considered to be taxable entities. Given this, explain how the business income, capital gains, and property income earned by a partnership will be taxed.

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The Answer of Under the provisions of the Income Tax Act, only individuals, corporations, and trusts are considered to be taxable entities. Given this, explain how the business income, capital gains, and property income earned by a partnership will be taxed.

Under the Provisions of the Income Tax Act, Only Individuals