Tax year-end and fiscal period

Tax year-end

Graduated rate estate

A graduated rate estate (GRE) can have a non-calendar tax year (the period for which the accounts of the estate are made up for purposes of assessment). A GRE will have a deemed tax year-end on the day on which the estate stops being a GRE, which will be no later than the day on which the 36-month period after the death of the individual ends. Later tax year-ends will generally be on a calendar-year basis. For example, where an estate is created in June 2016, and is a GRE for 2016, 17 and 18, a deemed year-end will occur in June 2019 on the 3 year anniversary of the individual’s date of death. The testamentary trust will also have a tax year-end on December 31, 2019.

All other trusts

All other trusts are generally required to use a December 31 tax year-end. However, an exception is available for mutual fund trusts that elect to have a December 15 year-end. A mutual fund trust that previously elected to have a December 15 year-end can revoke the election. For more information, call 1-800-959-8281.

Fiscal period change for a trust :

To request a changes to a fiscal year-end, write a letter asking for approval. Include details to explain the reasons for the change.

Send your letter to the Taxpayer Services Regional Correspondence Centre for your province or territory of residence from the following list:

Newfoundland and Labrador, New Brunswick, Nova Scotia, and Prince Edward Island

Nova Scotia Tax Services Office
PO Box 638, Station Central
Halifax NS  B3J 2T5
Fax: 902-450-8561

Quebec

Jonquière Tax Centre
2251 boulevard René-Lévesque
Jonquière QC  G7S 5J2
Fax: 418-548-0846

Ontario and Nunavut

London-Windsor Tax Services Office
451 Talbot Street
London ON  N6A 5E5
Fax: 519-645-4029

Manitoba, Saskatchewan, Alberta, and Northwest Territories

Saskatchewan Tax Services Office
340 3rd Avenue North
Saskatoon SK  S7K 0A8
Fax: 306-652-3211

British Columbia and Yukon

Fraser Valley Tax Services Office
9755 King George Boulevard
PO Box 9070, Station Main
Surrey BC  V3T 5E1
Fax: 604-587-2010

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