Carswell Editor: Paula Ideias
Provides detailed guidance on how to complete the T3 Trust Information and Income Tax Return
The ultimate T3 guide, this concise and informative handbook is designed to provide you with detailed guidance on how to complete the T3 Trust Information and Income Tax Return. Relevant for lawyers, accountants, trust administrators, executors, trust officers, or anyone responsible for preparing a T3 Tax Return, this guidebook provides line-by-line instructions corresponding with the T3 Tax Return, as well as detailed explanation and commentary from the expert authors of what is required for the T3 Return. This guide also includes valuable Think About
sections alerting the reader to consider questions and tax tips.
Some of the topics covered in this guide include:
- Guidance on calculating income
- Summary and explanation of tax and credits
- Discussion of filing requirements
- Discussion of tax filings for non-resident trusts and foreign reporting
In this edition, all tax rates have been updated and more tips have been added.What's New
- Elimination of graduated rate brackets for all trusts other than the graduated rate estates and qualified disability trusts
- Limitation on ability to designate income that became payable to a beneficiary to be taxable in the trust
- New rule that triggers a deemed year end and deemed distribution of trust income for special purpose trusts on death of a beneficiary
The most in-depth corporate tax return preparation guide is available on Taxnet Pro ™, Canada's most comprehensive online tax research service. Learn more.