Who should file a T3 return

You have to file a T3 return if income from the trust property is subject to tax, and in the tax year, the trust:


You must file a T3 return when a trust does not have tax payable but it holds property that is subject to subsection 75(2) of the Act and it received income, gains, or profits during the year from that property.

You must file a T3 return when the trust’s total income from all sources is less than $500 but it distributed capital to one or more beneficiaries.

If a trust changes its residency status, it still keeps the same trust number.

When an electing trust has filing obligations under both its resident portion trust and non-resident portion trust, you have to file these amounts separately under two different trust numbers.

Tax tip

You may not have to file a T3 return if the estate is distributed right after the person dies, or if the estate did not earn income before it was distributed. In these cases, you should give each beneficiary a statement showing their share of the estate.

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