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For income tax purposes - GST trust is no different from other types of trusts.
If income realized by the irrevocable trust (including rental income) is distributed to beneficiaries or must be distributed according ti trust documents - that income is passed to beneficiaries and reported on K1 statement to each beneficiary and deducted on the income tax return of the trust (form 1041).
If however income is not distributed and is not required to be distributed - it is taxed for the trust based on trust's income tax rates.