Line 48 – Tax paid by instalments ▲
Enter the total instalment payments made by the trust. If the account number on the trust's receipt is not the same as the one on page 1 of the return, enter the account number from the receipt to the right of line 48. If you received a refund of all or part of an instalment, do not include this amount on line 48.
Note
Do not include, on line 48, any tax withheld on income
earned by the trust. Any amount of tax withheld, as
shown on the trust's information slips, is to be reported
on line C. See the following section.
Tax instalments
For tax years before 2016, testamentary trusts were exempted from the tax instalment rules and therefore were required to pay any tax owing within 90 days after the end of the tax year. For 2016 and subsequent tax years, only a graduated rate estate is exempt from making the tax instalments. However, consistent with current administrative practices, the CRA will continue to not assess penalties or interest where a trust fails to make sufficient instalment payments.
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