Trust Statistical Tables (2007 to 2011 tax years)

The Trust Statistical Tables provide key tax and accounting information for all trusts with tax years that ended in 2007 to 2011 and that filed corresponding trust income tax returns as of December 2013. For these statistical tables, only information from trusts that have to file the T3 Trust Income Tax and Information Return has been captured. As a result, information about 20,000 trusts is not included in these statistical tables, since those trusts do not file a trust income tax return. These tables will be released once a year.

Explanatory notes

Filing requirements

A T3 return must be filed if a trust is subject to tax and any one of the following conditions applies. The trust:

• has tax payable;
• is resident in Canada and has either disposed of, or is deemed to have disposed of, a capital property or has a taxable capital gain;
• is a non-resident throughout the year, and has a taxable capital gain or has disposed of taxable Canadian property;
• is a deemed resident trust;
• holds property that is subject to subsection 75(2) of the Income Tax Act;
• has provided a benefit of more than $100 to a beneficiary for upkeep, maintenance, or taxes for property kept for the beneficiary’s use; or
• receives from the trust property any income, gain, or profit that is allocated to one or more beneficiaries, and the trust has:
  • total income from all sources of more than $500;
  • income of more than $100 allocated to any one beneficiary;
  • made a distribution of capital to one or more beneficiaries; or
  • allocated any part of the income to a non-resident beneficiary.

Coverage

The statistics included in these tables cover trusts with tax years that ended in 2007 to 2011 and that filed corresponding trust income tax returns as of December 2013.

Confidentiality

The confidentiality of reported trust statistics is protected under the Income Tax Act. Only grouped trust statistics are released, since they cannot be used to identify individual trust information.

In some cases, data have been suppressed for confidentiality. Suppressed information also includes valid zeros. Totals include suppressed information.

Counts are rounded to the nearest ten, and dollar amounts are rounded to the nearest thousand. Totals may not add up, due to rounding or suppression.

Data sources

The statistical tables in this report reflect trust income tax returns filed and assessed or reassessed for the tax years that ended in 2007 to 2011. The data used to produce the tables are derived from the information given on trust income tax returns and related schedules, which are captured in the Automated Trust System database as of December 2013. Only trusts that have to file a T3 Trust Income Tax and Information Return are included.

Changes that impact the data

The main changes that impacted the trust income tax administered by the Canada Revenue Agency are identified below. These changes impact the total tax payable table.

2007

• Capital gains deduction: the deduction limit was increased to $375,000 on capital gains arising from dispositions of qualified property after March 18, 2007.
• Donations of capital property to private foundations: for gifts made after March 18, 2007, the capital gains inclusion rate of 0% on donations of certain capital property was extended to include gifts to a private foundation.
• Creation of specified investment flow-through trust (SIFT): This is a trust (other than a trust that is a real estate investment trust for the tax year or an entity that is an excluded subsidiary entity) that meets the following conditions at any time during a tax year:
  • the trust is resident in Canada;
  • investments in the trust are listed or traded on a stock exchange or other public market; and
  • the trust holds one or more non-portfolio properties.

2009

• The registered disability savings plan (RDSP) trust was created.
• International financial reporting standards (IFRS) were introduced; Canada’s Accounting Standards Board began adopting the IFRS, effective January 1, 2011. IFRS is the collection of financial reporting standards developed by the International Accounting Standards Board (IASB).
• The tax-free savings account (TFSA) trust was created: A trust governed by a TFSA is generally non-taxable. When the funds in a TFSA are used in carrying on a business or used to acquire non-qualified investments, the trust will be taxable to the extent of the income earned from that business or those investments.
• For 2009 and later tax years, the provincial or territorial part of the SIFT trust's tax is based on its provincial or territorial SIFT tax rate. The SIFT trust can elect to apply this rate to its 2007 and 2008 tax years. Where no election is made for the SIFT trust's 2007 or 2008 tax year, the provincial or territorial SIFT tax factor is used to calculate the tax payable under Part I of the Income Tax Act on the taxable SIFT trust distributions of the SIFT trust.

2010

• Regarding the dividend tax credit, as of January 1, 2010, the gross-up rate for eligible dividends and the rate that applies to the taxable amount of eligible dividends changed. The type of dividends a trust receives determines which dividend tax credit rate the trust will apply to the gross-up amount of the dividends. For eligible dividends received from qualifying taxable Canadian corporations, the rate is 17.97%. For dividends other than eligible dividends, the rate is 13.33%.

• The employee life and health trust (EHLT) was created: This is an inter vivos trust, established after 2009 by one or more employers, that meets a number of conditions under subsection 144.1(2) of the Income Tax Act. The trust’s only purpose is the payment of designated employee benefits (DEBs) for employees and certain related persons (certain limitations apply to the rights and benefits that may be provided to key employees). Employers can deduct contributions made to the trust, as long as they are for DEBs and meet the conditions in subsection 144.1(4). Employee contributions are permitted, but are not deductible. However, employee contributions may qualify for the medical expense tax credit, to the extent that they are made to a private health services plan. The trust can deduct amounts paid to employees or former employees for DEBs and can generally carry non-capital losses back or forward three years. Any amount received from an ELHT must be included in income, unless the amount was received as the payment of a DEB. Payments of DEBs to non-resident employees or former employees will generally not be subject to tax under Part XIII.

2011

• Regarding the dividend tax credit, as of January 1, 2011, the gross-up rate for eligible dividends and the rate that applies to the taxable amount of eligible dividends changed. For eligible dividends received from qualifying taxable Canadian corporations, the rate is 16.43%. For dividends other than eligible dividends, the rate is 13.33%.

For all changes in legislation that have occurred during the 2007 to 2011 period, please consult the Department of Finance website.

Description of items/variables

Jurisdiction

The provincial and territorial jurisdictions used are those identified in Step 1 (identification and other required information) of the T3 Trust Income Tax and Information Return. A trust is liable for provincial or territorial tax at the rate that applies for its province or territory of residence on the last day of its tax year. The trust uses the applicable provincial or territorial tax form to calculate the provincial or territorial tax. A resident trust may carry on a business with a permanent establishment in a province or territory other than the province or territory of residence or in a foreign country.

The Province of Quebec collects its own provincial income tax. A trust may be resident in Quebec on the last day of its tax year and have income from a business with a permanent establishment in another province or territory. If so, the trust has to calculate that province’s or territory’s income tax on the trust’s federal tax return.

Non-resident trusts and deemed resident trusts

A non-resident trust or a deemed resident trust that carries on a business with a permanent establishment in a province or territory is subject to provincial or territorial tax on the business income it earned in that province or territory. A non-resident trust or a deemed resident trust may carry on a business in Canada without a permanent establishment in Canada. In this case, it may be subject to the federal surtax.

Tax year

A tax year includes all the T3 returns with a tax year-end in the calendar year. For example, all amounts relating to a T3 return covering the period between September 1, 2008, and August 30, 2009, will be included in the 2009 tax year.

Taxable income

This is the income on which the trust is subject to tax. Taxable income is derived by applying deductions and additions to net income. These include non-capital losses of other years; net capital losses of other years; capital gains deduction (for resident spousal or common-law partner only); and other deductions. Amounts included in these tables are the amounts greater than zero and reported on line 56 of the T3 Trust Income Tax and Information Return.

Total income

This is the trust’s total income from all sources and includes taxable capital gains, pension income, actual dividends from Canadian corporations, foreign investment income, business, farming, fishing rental, and AgriStability and AgriInvest income, other income, and other investment income. Amounts included in these tables are those reported on line 20 of the T3 Trust Income Tax and Information Return.

Total tax payable

This is the total amount of tax payable by trusts before refundable tax credits. The total tax payable includes federal and provincial/territorial taxes (except Quebec). Amounts included in these tables are the ones reported on line 84 of the T3 Trust Income Tax and Information Return.

Trust

A trust is a binding obligation enforceable by law. A trust may be created by one of the following:

• a person (either verbally or in writing);
• a court order; or
• a statute.

Generally, a trust is created when it is properly established and there is certainty of:

• the intent to create a trust;
• the property to be placed in trust; and
• who the beneficiaries of the trust are.

Types of trusts

A trust is either a testamentary trust or an inter vivos trust. Each trust has different tax rules.

Testamentary trust

A testamentary trust is a trust or estate that is generally created on the day a person dies. All testamentary trusts are personal trusts. The terms of the trust are established by the will or by court order in relation to the deceased individual’s estate under provincial or territorial law.

Generally, this type of trust does not include a trust created by a person other than a deceased individual, or a trust created after November 12, 1981, if any property was contributed to it other than by a deceased individual as a consequence of the individual’s death.

If the assets are not distributed to the beneficiaries according to the terms of the will, the testamentary trust may become an inter vivos trust.

Inter vivos trust

An inter vivos trust is a trust that is not a testamentary trust.

For more information and definitions on the various trust types, see the T3 Trust Guide. For previous years see: Archived T3 trust guides

Tables in PDF format

Please see the explanatory notes for these tables.

• Table 1: Number of Trusts by Jurisdiction, 2007 to 2011
• Table 2: Total Income by Jurisdiction, 2007 to 2011
• Table 3: Taxable Income by Jurisdiction, 2007 to 2011
• Table 4: Total Tax Payable by Jurisdiction, 2007 to 2011
• Table 5: Number of Trusts by Type, 2007 to 2011
• Table 6: Total Income by Trust Type, 2007 to 2011
• Table 7: Taxable Income by Trust Type, 2007 to 2011
• Table 8: Total Tax Payable by Trust Type, 2007 to 2011
• Table 9: Total Income and Number of Trusts by Income Range, 2007 to 2011

Tables in CSV format

Please see the explanatory notes for these tables.

Table 1: Number of Trusts by Jurisdiction, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. Counts are rounded to the nearest ten.
3. Counts include all trust income tax returns that were assessed or reassessed during the period.
4. Counts only include trusts that filed a T3 Trust Income Tax and Information Return.
5. Data are as of December 2013.
6. Data are presented on a tax-year basis.
7. Data are subject to change.

Table 2: Total Income by Jurisdiction, 2007 to 2011

Notes

1. The sum of the data may not match the totals, due to rounding and/or suppressing for confidentiality.
2. Amounts include all trust income tax returns that were assessed or reassessed during the period.
3. Amounts are rounded and in thousands of dollars.
4. Amounts are calculated using line 20 of the T3 Trust Income Tax and Information Return.
5. Data are as of December 2013.
6. Data are presented on a tax-year basis.
7. Data are subject to change.

Table 3: Taxable Income by Jurisdiction, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. A dash [ - ] indicates that the information has been suppressed for confidentiality. Suppressed information also includes valid zeros.
3. Amounts include all trust income tax returns that were assessed or reassessed during the period.
4. Amounts are rounded and in thousands of dollars.
5. Amounts are calculated using line 56 of the T3 Trust Income Tax and Information Return.
6. Data are as of December 2013.
7. Data are presented on a tax year basis.
8. Data are subject to change.

Table 4: Total Tax Payable by Jurisdiction, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. A dash [ - ] indicates that the information has been suppressed for confidentiality. Suppressed information also includes valid zeros.
3. Amounts include all trust income tax returns that were assessed or reassessed during the period.
4. Amounts are rounded and in thousands of dollars.
5. Amounts are calculated using line 84 of the T3 Trust Income Tax and Information Return. Line 84 includes total federal, provincial, territorial and Part XII.2 tax payable.
6. Data are as of December 2013.
7. Data are presented on a tax-year basis.
8. Data are subject to change.

Table 5: Number of Trusts by Type, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. Counts are rounded to the nearest ten.
3. Counts include all trust income tax returns that were assessed or reassessed during the period.
4. Counts only include trusts that filed a T3 Trust Income Tax and Information Return.
5. Data are as of December 2013.
6. Data are presented on a tax-year basis.
7. Data are subject to change.
8. RRSP = Registered retirement savings plan
9. RRIF = Registered retirement income fund
10. RESP = Registered education savings plan 
11. RDSP = Registered disability savings plan, created in 2009
12. TFSA = Tax-free savings account trusts, created in 2009
13. SIFT = Specified investment flow-through, created in 2007
14. Employee life and health trusts were created in 2010.

Table 6: Total Income by Trust Type, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. A dash [ - ] indicates that the information has been suppressed for confidentiality. Suppressed information also includes valid zeros.
3. Amounts include all trust income tax returns that were assessed or reassessed during the period.
4. Amounts are calculated using line 20 of the T3 Trust Income Tax and Information Return.
5. Amounts are rounded and in thousands of dollars.
6. Data are as of December 2013.
7. Data are presented on a tax-year basis.
8. Data are subject to change.
9. RRSP = Registered retirement savings plan
10. RRIF = Registered retirement income fund
11. RESP = Registered education savings plan 
12. RDSP = Registered disability savings plan, created in 2009
13. TFSA = Tax-free savings account trusts, created in 2009
14. SIFT = Specified investment flow-through, created in 2007
15. Employee life and health trusts were created in 2010.

Table 7: Taxable Income by Trust Type, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. A dash [ - ] indicates that the information has been suppressed for confidentiality. Suppressed information also includes valid zeros.
3. Amounts include all trust income tax returns that were assessed or reassessed during the period.
4. Amounts are calculated using line 56 of the T3 Trust Income Tax and Information Return.
5. Amounts are rounded and in thousands of dollars.
6. Data are as of December 2013.
7. Data are presented on a tax-year basis.
8. Data are subject to change.
9. RRSP = Registered retirement savings plan
10. RRIF = Registered retirement income fund
11. RESP = Registered education savings plan 
12. RDSP = Registered disability savings plan, created in 2009
13. TFSA = Tax-free savings account trusts, created in 2009
14. SIFT = Specified investment flow-through, created in 2007
15. Employee life and health trusts were created in 2010.

Table 8: Total Tax Payable by Trust Type, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. A dash [ - ] indicates that the information has been suppressed for confidentiality. Suppressed information also includes valid zeros.
3. Amounts include all trust income tax returns that were assessed or reassessed during the period.
4. Amounts are calculated using line 84 of the T3 Trust Income Tax and Information Return. Line 84 includes total federal, provincial, territorial and Part XII.2 tax payable.
5. Amounts are rounded and in thousands of dollars.
6. Data are as of December 2013.
7. Data are presented on a tax-year basis.
8. Data are subject to change.
9. RRSP = Registered retirement savings plan
10. RRIF = Registered retirement income fund
11. RESP = Registered education savings plan
12. RDSP = Registered disability savings plan, created in 2009
13. TFSA = Tax-free savings account trusts, created in 2009
14. SIFT = Specified investment flow-through, created in 2007
15. Employee life and health trusts were created in 2010.

Table 9: Total Income and Number of Trusts by Income Range, 2007 to 2011

Notes

1. The sum of the data may not match the totals due to rounding and/or suppressing for confidentiality.
2. Income range is based on the total income reported by the trust.
3. Counts are rounded to the nearest ten.
4. Counts only include trusts that filed a T3 Trust Income Tax and Information Return.
5. Amounts include all trust income tax returns that were assessed or reassessed during the period.
6. Amounts and income ranges are calculated using line 20 of the T3 Trust Income Tax and Information Return.
7. Amounts are rounded and in thousands of dollars.
8. Data are as of December 2013.
9. Data are presented on a tax-year basis.
10. Data are subject to change.