T3 Trust - Quebec tax guide index by line numbers
TRUSTS - GUIDE TO FILING THE TRUST INCOME TAX RETURN - 2023
PRINCIPAL CHANGES
1 GENERAL INFORMATION
1.1 Taxation year of a trust
1.2 Obligation to file the Trust Income Tax Return (form TP-646-V)
1.3 Filing requirements
1.4 Reassessments
1.5 Registers and supporting documents
1.6 Certificate authorizing the distribution of property
1.7 Types of trusts
1.8 List of province, territory and country codes
2 RIGHTS AND OBLIGATIONS OF A TRUST AS A TAXPAYER
2.1 Mandatory or preventive disclosure
2.2 Mandatary disclosure of nominee agreements
2.3 Obligation to register a trust operating a commercial enterprise
2.4 Protection of confidential information
2.5 Communication of confidential information to a person designated by the trust
3 SPECIAL RULES
3.1 Rollover rule
3.2 Income attribution rule
3.3 Losses on the disposition of property involving an affiliated person
3.4 Restrictions applicable to certain investment trusts with respect to stapled securities
3.5 Trusts subject to a loss restriction event
3.6 Thin capitalization rules
3.7 Non-deductible losses in the calculation of the adjusted taxable income for AMT purposes
3.8 Use of a trust for cross-border surplus-stripping
4 INSTRUCTIONS FOR COMPLETING THE RETURN
4.1 Information about the trust
4.2 Net income and taxable income
50, 51 and 52 Investment income
53 Taxable capital gains
54 Pension benefits
55a and 55 Business income (or loss)
56a to 57 Farm or fishing income (or loss)
58a and 58 Rental income (or loss)
59 Amount withdrawn from a net income stabilization account (NISA)
60 Income (or losses) relating to a deemed sale applicable to certain trusts
61 Other income
64 Carrying charges and interest expenses
65 and 66 Fees paid to the trustee
69 Business investment loss
70 Other deductions in the calculation of net income
74 Upkeep and maintenance expenses or taxes for property used by a beneficiary
75 Value of other taxable benefits
81 Total amounts allocated to beneficiaries
83 Gross-up of dividends not designated
84 Adjustment of investment expenses
86 Carry-over of the adjustment of investment expenses
90 Net income
91 Non-capital losses from other years
92 Net capital losses from other years
93a Adjustment for the purpose of calculating the CNIL
94 Other deductions in the calculation of taxable income
98 Other adjustment of investment expenses
98.1 Adjustment of deductions (all or part of the deduction claimed for a trust that is a certified forest producer)
99 Taxable income
53 Taxable capital gains
54 Pension benefits
55a and 55 Business income (or loss)
56a to 57 Farm or fishing income (or loss)
58a and 58 Rental income (or loss)
59 Amount withdrawn from a net income stabilization account (NISA)
60 Income (or losses) relating to a deemed sale applicable to certain trusts
61 Other income
64 Carrying charges and interest expenses
65 and 66 Fees paid to the trustee
69 Business investment loss
70 Other deductions in the calculation of net income
74 Upkeep and maintenance expenses or taxes for property used by a beneficiary
75 Value of other taxable benefits
81 Total amounts allocated to beneficiaries
83 Gross-up of dividends not designated
84 Adjustment of investment expenses
86 Carry-over of the adjustment of investment expenses
90 Net income
91 Non-capital losses from other years
92 Net capital losses from other years
93a Adjustment for the purpose of calculating the CNIL
94 Other deductions in the calculation of taxable income
98 Other adjustment of investment expenses
98.1 Adjustment of deductions (all or part of the deduction claimed for a trust that is a certified forest producer)
99 Taxable income
4.3 Income tax payable
101 to 103 Graduated rate estate or qualified disability trust
105 and 107 Trust other than a mutual fund trust, a QDT or a GRE
110 to 115 Mutual fund trust
120 Income tax on taxable income
121 Income tax adjustment
123 Tax credit for donations and gifts
124 Foreign tax credit
125 Dividend tax credit
128 Tax credit claimed by the trust as a designated beneficiary of a designated trust
130 Additional income tax resulting from the AMT
132 Additional income tax resulting from the AMT carried forward to 2023
134 Deduction for logging tax
136 Special tax respecting certain refundable tax credits, an RESP or an income-averaging annuity for artists
137 Income tax on the taxable distributions amount
138 Income tax payable on specified immovables
105 and 107 Trust other than a mutual fund trust, a QDT or a GRE
110 to 115 Mutual fund trust
120 Income tax on taxable income
121 Income tax adjustment
123 Tax credit for donations and gifts
124 Foreign tax credit
125 Dividend tax credit
128 Tax credit claimed by the trust as a designated beneficiary of a designated trust
130 Additional income tax resulting from the AMT
132 Additional income tax resulting from the AMT carried forward to 2023
134 Deduction for logging tax
136 Special tax respecting certain refundable tax credits, an RESP or an income-averaging annuity for artists
137 Income tax on the taxable distributions amount
138 Income tax payable on specified immovables
4.4 Refund claimed or balance due
150.1 Recovery tax
151 Income tax paid in instalments
152 Québec income tax withheld at source
153 Tax credits for scientific research and experimental development (R&D)
154 Tax credit for an on-the-job training period
156 Other credits and other adjustments to income tax payable
160 Balance due
151 Income tax paid in instalments
152 Québec income tax withheld at source
153 Tax credits for scientific research and experimental development (R&D)
154 Tax credit for an on-the-job training period
156 Other credits and other adjustments to income tax payable
160 Balance due
4.6 Information about the person who completed the return
4.7 Certification
5 INSTRUCTIONS FOR COMPLETING THE SCHEDULES
5.1 Schedule A - Taxable Capital Gains and Designated Net Taxable Capital Gains
200 Qualified farm or fishing property
201 Qualified small business corporation shares
213a Capital gains (or losses) on qualified property
202 Other shares, mutual fund units and interest in an insurance segregated fund trust
203 Bonds, debt obligations, promissory notes and other similar securities
204 Immovables and depreciable property
231 Virtual currency transactions (cryptocurrency, token, etc.)
205 Personal-use property
206 Precious property
209 Non-qualified investments (RRSP, RRIF, RDSP, TFSA or FHSA)
210 Adjusted amount of capital gains resulting from the donation of certain property
211 Capital losses for which the election referred to in section 1054 of the Taxation Act is made
213b Capital gains (or losses) on other property
213c Capital gains (or losses) on other property as shown on the RL-16 slips
213d Net amount of capital gains (or losses) from a deemed sale applicable to certain trusts
216 Capital loss from a reduction in a business investment loss
221 Reserve for the previous year
223 Reserve for the current year
230 Taxable capital gains (or net capital loss)
240 to 250 Designated net taxable capital gains
201 Qualified small business corporation shares
213a Capital gains (or losses) on qualified property
202 Other shares, mutual fund units and interest in an insurance segregated fund trust
203 Bonds, debt obligations, promissory notes and other similar securities
204 Immovables and depreciable property
231 Virtual currency transactions (cryptocurrency, token, etc.)
205 Personal-use property
206 Precious property
209 Non-qualified investments (RRSP, RRIF, RDSP, TFSA or FHSA)
210 Adjusted amount of capital gains resulting from the donation of certain property
211 Capital losses for which the election referred to in section 1054 of the Taxation Act is made
213b Capital gains (or losses) on other property
213c Capital gains (or losses) on other property as shown on the RL-16 slips
213d Net amount of capital gains (or losses) from a deemed sale applicable to certain trusts
216 Capital loss from a reduction in a business investment loss
221 Reserve for the previous year
223 Reserve for the current year
230 Taxable capital gains (or net capital loss)
240 to 250 Designated net taxable capital gains
5.2 Schedule B - Investment Income, Gross-Up of Dividends Not Designated and Adjustment of Investment Expenses
300 to 303 Actual amount of dividends from taxable Canadian corporations
305 to 309 Other investment income from Canadian sources
310 to 313 Foreign investment income
315 to 319 Carrying charges and interest expenses
326 Amount of the gross-up of dividends not designated
328 Dividend tax credit
332 Fees paid to the trustee
335 Other investment expenses
343 Taxable capital gains that do not qualify for a deduction
345 Other investment income
305 to 309 Other investment income from Canadian sources
310 to 313 Foreign investment income
315 to 319 Carrying charges and interest expenses
326 Amount of the gross-up of dividends not designated
328 Dividend tax credit
332 Fees paid to the trustee
335 Other investment expenses
343 Taxable capital gains that do not qualify for a deduction
345 Other investment income
5.3 Schedule C - Summary of Allocations and Designations
400 Designated net taxable capital gains
401 Single pension payment
402a and 402b Actual amount of eligible and ordinary dividends
403 Retirement pension giving entitlement to a tax credit
406 Other income
411 Allowable capital losses - Insurance segregated fund trust, or revocable or blind trust
412 Net taxable capital gains giving entitlement to a deduction
413 and 414 Taxable amount of eligible and ordinary dividends and dividend tax credit
417 Cost base adjustment of capital interest
418 Donations allocated by a religious organization
428 Split income
429 Loss sustained on transferred or loaned property - Revocable or blind trusts
401 Single pension payment
402a and 402b Actual amount of eligible and ordinary dividends
403 Retirement pension giving entitlement to a tax credit
406 Other income
411 Allowable capital losses - Insurance segregated fund trust, or revocable or blind trust
412 Net taxable capital gains giving entitlement to a deduction
413 and 414 Taxable amount of eligible and ordinary dividends and dividend tax credit
417 Cost base adjustment of capital interest
418 Donations allocated by a religious organization
428 Split income
429 Loss sustained on transferred or loaned property - Revocable or blind trusts