T3 Trust - Federal tax guide index by line numbers
T3 - Trust Guide - 2023
What's new for 2023
Before you start
Definitions
Chapter 1 - General information
Chapter 2 - Completing the T3 return
Reporting foreign income and property
Other required information
Step 2 - Calculating total income: Lines 1 to 12
Line 1 - Taxable capital gains
Line 2 - Pension income ▲
Line 3 - Total of actual amount of dividends from taxable Canadian corporations ▲
Line 4 - Foreign investment income ▲
Line 5 - Other investment income ▲
Lines 6, 7, and 8 - Business, farming or fishing, and rental income
Line 9 - AgriInvest Fund 2 payments
Line 10 - Deemed dispositions income or losses
Line 11 - Other income ▲
Line 2 - Pension income ▲
Line 3 - Total of actual amount of dividends from taxable Canadian corporations ▲
Line 4 - Foreign investment income ▲
Line 5 - Other investment income ▲
Lines 6, 7, and 8 - Business, farming or fishing, and rental income
Line 9 - AgriInvest Fund 2 payments
Line 10 - Deemed dispositions income or losses
Line 11 - Other income ▲
Step 3 - Calculating net income: Lines 13 to 31
Line 14 - Carrying charges and interest expenses ▲
Lines 15 to 17 - Trustee fees
Line 18 - Allowable business investment losses (ABIL)
Line 19 - Other deductions from total income
Line 22 - Upkeep, maintenance, and taxes of a property used or occupied by a beneficiary
Line 23 - Value of other benefits to a beneficiary
Lines 26, 27 and 28 – Total income allocations and designations to beneficiaries ▲
Lines 15 to 17 - Trustee fees
Line 18 - Allowable business investment losses (ABIL)
Line 19 - Other deductions from total income
Line 22 - Upkeep, maintenance, and taxes of a property used or occupied by a beneficiary
Line 23 - Value of other benefits to a beneficiary
Lines 26, 27 and 28 – Total income allocations and designations to beneficiaries ▲
Step 4 - Calculating taxable income: Lines 32 to 43
Line 33 - Non-capital losses of other years
Line 34 - Net capital losses of other years
Lines 35 to 40 - Other deductions to arrive at taxable income
Line 34 - Net capital losses of other years
Lines 35 to 40 - Other deductions to arrive at taxable income
Step 5 - Summary of tax and credits: Lines 44 to 73
Line 44 – Total federal tax payable ▲
Line 45 – Provincial or territorial tax payable ▲
Line 48 – Tax paid by instalments ▲
Lines C, D and 49 - Total tax deducted ▲
Line 52 - Capital gains refund
Line 53 - Part XII.2 tax credit
Line 69 - Total other credits
Line 71 - Balance owing or refund ▲
Line 72 - Amount enclosed ▲
Line 73 - Refund code ▲
Line 45 – Provincial or territorial tax payable ▲
Line 48 – Tax paid by instalments ▲
Lines C, D and 49 - Total tax deducted ▲
Line 52 - Capital gains refund
Line 53 - Part XII.2 tax credit
Line 69 - Total other credits
Line 71 - Balance owing or refund ▲
Line 72 - Amount enclosed ▲
Line 73 - Refund code ▲
Chapter 3 - Trust schedules and forms
Schedule 1 - Dispositions of Capital Property
Lines 1 and 2 - Qualified small business corporation shares (QSBCS) and qualified farm or fishing property (QFFP)
Line 3 - Publicly traded shares, mutual fund units and other shares
Line 4 - Bonds, debentures, promissory notes, crypto assets and other similar properties
Line 5 - Real estate, depreciable property, and other properties
Line 6 - Personal-use property
Lines 7 to 9 - Listed personal property
Line 10 - T3 information slips - Capital gains (or losses)
Line 11 - T5, T4PS, and T5013 information slips - Capital gains (or losses) Information slips
Line 13 - Capital losses from a reduction in business investment loss
Line 15 - Capital gains (losses) from reserves
Line 17 - Capital gains on gifts of certain capital property eligible for the 0% inclusion rate
Line 20 - Total capital losses transferred under subsection 164(6) of the Act
Line 23 - Non-qualified investments for TFSA, RRSP, RRIF, RDSP, RESP, and FHSA trusts, or disposition of interest in a partnership reported under subsection 100(1.1) of the Act
Line 24 - Total taxable capital gains (or net capital losses)
Line 3 - Publicly traded shares, mutual fund units and other shares
Line 4 - Bonds, debentures, promissory notes, crypto assets and other similar properties
Line 5 - Real estate, depreciable property, and other properties
Line 6 - Personal-use property
Lines 7 to 9 - Listed personal property
Line 10 - T3 information slips - Capital gains (or losses)
Line 11 - T5, T4PS, and T5013 information slips - Capital gains (or losses) Information slips
Line 13 - Capital losses from a reduction in business investment loss
Line 15 - Capital gains (losses) from reserves
Line 17 - Capital gains on gifts of certain capital property eligible for the 0% inclusion rate
Line 20 - Total capital losses transferred under subsection 164(6) of the Act
Line 23 - Non-qualified investments for TFSA, RRSP, RRIF, RDSP, RESP, and FHSA trusts, or disposition of interest in a partnership reported under subsection 100(1.1) of the Act
Line 24 - Total taxable capital gains (or net capital losses)
Form T1055, Summary of Deemed Dispositions (2002 and later tax years)
Form T2223, Election Under Subsection 159(6.1) of the Income Tax Act, by a Trust to Defer Payment of Income Tax
Schedule 8 - Investment Income, Carrying Charges, and Gross-up Amount of Dividends Retained by the Trust ▲
Lines 1 to 3 - Dividends from taxable Canadian corporations
Lines 4 to 6 - Foreign investment income
Lines 7 to 12 - Other investment income
Lines 13 to 17 - Carrying charges and interest expenses
Lines 18 to 32 - Calculating the gross-up amount of dividends retained or not designated by the trust
Line 19 - Eligible dividends designated to beneficiaries
Line 21 - Eligible dividends allocated, but not designated, to non-resident beneficiaries
Line 24 - Gross-up amount of eligible dividends retained or not designated by the trust
Line 26 - Dividends other than eligible dividends designated to beneficiaries
Line 28 - Dividends other than eligible dividends allocated, but not designated, to non-resident beneficiaries
Line 31 - Gross-up amount of dividends other than eligible retained or not designated by the trust
Line 32 - Total gross-up amount of dividends other than eligible retained or not designated by the trust
Lines 4 to 6 - Foreign investment income
Lines 7 to 12 - Other investment income
Lines 13 to 17 - Carrying charges and interest expenses
Lines 18 to 32 - Calculating the gross-up amount of dividends retained or not designated by the trust
Line 19 - Eligible dividends designated to beneficiaries
Line 21 - Eligible dividends allocated, but not designated, to non-resident beneficiaries
Line 24 - Gross-up amount of eligible dividends retained or not designated by the trust
Line 26 - Dividends other than eligible dividends designated to beneficiaries
Line 28 - Dividends other than eligible dividends allocated, but not designated, to non-resident beneficiaries
Line 31 - Gross-up amount of dividends other than eligible retained or not designated by the trust
Line 32 - Total gross-up amount of dividends other than eligible retained or not designated by the trust
Schedule 9 - Income Allocations and Designations to Beneficiaries ▲
How to complete Schedule 9 ▲
Column 1 - Resident ▲
Column 2 - Non-resident ▲
Column 3 - By preferred beneficiary election ▲
Part A - Total income allocations and designations to beneficiaries Lines 921 to 928 and 949 ▲
Line 921 - Taxable capital gains ▲
Line 922 - Lump-sum pension income ▲
Line 923 - Actual amount of dividends other than eligible dividends ▲
Line 924 - Foreign business income ▲
Line 925 - Foreign non-business income
Line 926 - Other income ▲
Line 949 - Actual amount of eligible dividends ▲
Line 928 - Totals ▲
Line 922 - Lump-sum pension income ▲
Line 923 - Actual amount of dividends other than eligible dividends ▲
Line 924 - Foreign business income ▲
Line 925 - Foreign non-business income
Line 926 - Other income ▲
Line 949 - Actual amount of eligible dividends ▲
Line 928 - Totals ▲
Part B - Summary of other amounts designated to beneficiaries Lines 930 to 951 ▲
Line 930 - Taxable capital gains eligible for deduction
Line 931 - Qualifying pension income ▲
Line 932 - Taxable amount of dividends other than eligible dividends ▲
Line 933 - Foreign business income tax paid
Line 934 - Foreign non-business income tax paid
Line 935 - Eligible death benefits ▲
Line 937 - Insurance segregated fund net capital losses
Line 938 - Part XII.2 tax credit
Line 939 - Dividend tax credit for dividends other than eligible dividends ▲
Lines 940 and 941 - Investment tax credit (ITC)
Line 942 - Amount resulting in cost base adjustment
Line 945 - Other credits
Line 946 - Pension income qualifying for an eligible annuity for a minor ▲
Line 947 - Retiring allowance qualifying for transfer to an RPP or an RRSP
Line 948 - Eligible amount of charitable donations
Line 950 - Taxable amount of eligible dividends ▲
Line 951 - Dividend tax credit for eligible dividends ▲
Line 931 - Qualifying pension income ▲
Line 932 - Taxable amount of dividends other than eligible dividends ▲
Line 933 - Foreign business income tax paid
Line 934 - Foreign non-business income tax paid
Line 935 - Eligible death benefits ▲
Line 937 - Insurance segregated fund net capital losses
Line 938 - Part XII.2 tax credit
Line 939 - Dividend tax credit for dividends other than eligible dividends ▲
Lines 940 and 941 - Investment tax credit (ITC)
Line 942 - Amount resulting in cost base adjustment
Line 945 - Other credits
Line 946 - Pension income qualifying for an eligible annuity for a minor ▲
Line 947 - Retiring allowance qualifying for transfer to an RPP or an RRSP
Line 948 - Eligible amount of charitable donations
Line 950 - Taxable amount of eligible dividends ▲
Line 951 - Dividend tax credit for eligible dividends ▲
Schedule 10 - Part XII.2 Tax and Part XIII Non-Resident Withholding Tax
Part A - Calculating Part XII.2 tax and the refundable Part XII.2 tax credit - Lines 1 to 14
Line 6 - Total specified income
Lines 7, 8, 10, and 11 - Adjusted amounts allocated and designated to beneficiaries
Line 12 - Part XII.2 tax payable
Line 13 - Adjustment for Part XIII tax purposes
Line 14 - Part XII.2 refundable tax credit for eligible beneficiaries
Lines 7, 8, 10, and 11 - Adjusted amounts allocated and designated to beneficiaries
Line 12 - Part XII.2 tax payable
Line 13 - Adjustment for Part XIII tax purposes
Line 14 - Part XII.2 refundable tax credit for eligible beneficiaries
Part B - Calculating Part XIII non-resident withholding tax - Lines 15 to 27
Line 18 - Taxable capital gains distributions designated as payable by a mutual fund trust
Line 20 - Amounts not subject to Part XIII tax: Other
Line 21 - Part XII.2 tax amount
Line 23 - Taxable Canadian property gains distributions for non-resident beneficiaries
Lines 25 to 27 - Non-resident tax payable
Line 20 - Amounts not subject to Part XIII tax: Other
Line 21 - Part XII.2 tax amount
Line 23 - Taxable Canadian property gains distributions for non-resident beneficiaries
Lines 25 to 27 - Non-resident tax payable
Schedule 11 - Federal Income Tax
Lines 8 and 9 - Federal tax on taxable income
Line 11 - Federal recovery tax ▲
Lines 13 to 15 - Federal dividend tax credit ▲
Line 16 - Donations and gifts tax credit ▲
Line 19 - Minimum tax carryover from previous years
Line 21 - Surtax on income not subject to provincial or territorial tax
Line 23 - Federal foreign tax credit
Line 25 - Allowable federal political contribution tax credit
Line 26 - Investment tax credit
Line 32 - Additional tax on RESP accumulated income payments
Line 34 - Refundable Quebec abatement ▲
Line 11 - Federal recovery tax ▲
Lines 13 to 15 - Federal dividend tax credit ▲
Line 16 - Donations and gifts tax credit ▲
Line 19 - Minimum tax carryover from previous years
Line 21 - Surtax on income not subject to provincial or territorial tax
Line 23 - Federal foreign tax credit
Line 25 - Allowable federal political contribution tax credit
Line 26 - Investment tax credit
Line 32 - Additional tax on RESP accumulated income payments
Line 34 - Refundable Quebec abatement ▲
Schedule 11A - Donations and gifts tax credit calculation
Lines 1 to 3 - Donations to registered charities and other qualified donees
Line 4 - Donations applied to the last two years of the deceased individual (GREs and former GREs only)
Line 5 - Total eligible amount of charitable donations (total of lines 1, 2, and 3 minus line 4)
Line 6 - Donations limit
Lines 7 and 8 - Gifts of capital property (including depreciable property)
Line 11 - Eligible amount of cultural and ecological gifts
Line 12 - Amount of cultural and ecological gifts applied to the last two years of the deceased individual (GREs and former GREs only)
Lines 16 to 30 - Donations and gifts tax credit calculation
Line 4 - Donations applied to the last two years of the deceased individual (GREs and former GREs only)
Line 5 - Total eligible amount of charitable donations (total of lines 1, 2, and 3 minus line 4)
Line 6 - Donations limit
Lines 7 and 8 - Gifts of capital property (including depreciable property)
Line 11 - Eligible amount of cultural and ecological gifts
Line 12 - Amount of cultural and ecological gifts applied to the last two years of the deceased individual (GREs and former GREs only)
Lines 16 to 30 - Donations and gifts tax credit calculation
Schedule 12 - Minimum Tax
Provincial and territorial income tax ▲
Schedule 15 - Beneficial Ownership Information of a Trust
Chapter 4 - T3 slip and T3 Summary
How to file the T3 slip and T3 Summary ▲
Appendix A - T3 slip and T3 Summary ▲
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