Line 23 - Value of other benefits to a beneficiary
You may have paid benefits, such as amounts for personal or living expenses, from the trust to a beneficiary. The beneficiary has to include the value of these benefits in income in the year they were paid, unless the value:
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is already included in calculating the beneficiary's income for the year
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has been used to reduce the adjusted cost base of the beneficiary's interest in the trust
Enter on line 23, the amount of these benefits that were included as income on the beneficiary's T3 slip.
Because you have to deduct the value of the benefits as income allocations and designations to beneficiaries on line 28, and the trust cannot deduct this amount, you have to add it back into the trust's income by including the amount on line 23. Provide details of the amount entered on this line, including the nature and amount of each benefit.
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