  Minimum tax |
Use the keyword Minimum-Tax to indicate the type of minimum tax information that is pertinent to the trust.
DT Max will automatically calculate any alternative minimum tax payable and carry forward any relevant information. However, in order for the calculations to be reliable, certain amounts must be entered in the year in which the trust is subject to minimum tax.
Please verify that the carryforwards calculated by the program match the CRA's records.
The following options are applicable for the keyword Minimum-Tax.
Use the keyword MinTax-Exempt in order to indicate whether or not the trust is liable to minimum tax.
Minimum tax limits the tax advantage a trust can receive from certain tax incentives.
A trust may be liable to pay minimum tax when the following situations are reported; - taxable dividends
- taxable capital gains
- election under ITAR 40 for pension benefits
- losses resulting from claiming CCA on rental property or certified films
- losses due to resource expenditures or allowances
Mutual fund trusts, related segregated fund trusts, master trusts and spousal or commom-law trusts in the year in which the trust reports its first deemed realization under the 21-year rule are not subject to minimum tax.
DT Max will not calculate the minimum tax for mutual fund trusts and related segregated fund trusts. In all other cases, DT Max will automatically generate the calculation. In order to override DT Max's calculation use the keyword MinTax-Exempt.
Use the keyword Capital-Gain.mt to enter the capital gains on property acquired or repossessed following a payment default.
This amount will be entered on line 34 of Quebec form TP-776.42.F.
The following options are applicable for the keyword Capital-Gain.mt.
Use the keyword NonCapLossAdjust if the trust claimed non capital losses of other years and must reduce the losses for minimum tax purposes.
This reduction applies to any portion of the non capital losses attributable to: - CCA and carrying charges claimed on rental or leasing property; or on certified films;
- resource expenditures;
- depletion allowances and deductions for exploration and development expenses.
The following options are applicable for the keyword NonCapLossAdjust.
CCA and additional deduction for certain films before 2012 CCA and additional deduction with respect to certain films incurred in 2011 and earlier years.
CCA and additional deduction for certain films CCA and additional deduction with respect to certain films incurred in 2012 and later years.
Depletion allowance and deduction for R&D exp. before 2012 Depletion allowance and deductions for exploration and development expenses incurred in 2011 and earlier years.
Depletion allowance and deduction for R&D expenses Depletion allowance and deductions for exploration and development expenses incurred in 2012 and later years.
Carry charges, int. exp - films,resource,rentals bef. 2012 CCA, carrying charges and interest expenses respecting films, resources or rental properties incurred in 2011 and earlier years
Carry charges, interest exp - films, resource, rentals CCA, carrying charges and interest expenses respecting films, resources or rental properties incurred in 2012 and later years.
Loss sustained after 1994 by partnership with no election Trust's share of a loss sustained after 1994 by a partnership, in which the trust did not make an election for the years 2006 to 2011.
Loss sustained after 1994 by a partnership with an election Trust's share of a loss sustained after 1994 by a partnership, in which the trust did make an election, for the years 2006 to 2011.
Non-capital and limited partnership losses of other years
Use the keyword NetCapLossAdjust to enter the adjustment to net capital losses of other years deducted in the current year.
If a net capital loss from another year has been claimed on the return, an adjustment to the trust's income may be required for minimum tax purposes. Enter any amount required to ensure that the net capital loss deducted for the year is the lesser of: - the net capital losses claimed on the T3 return, and - the total of net capital losses that would be deductible if they were calculated according to the miminum tax rules in effect for the year in which they were incurred.
Use the keyword NonDeduct-BusExp to enter specific amounts affecting the calculation of the net adjusted taxable income for minimum tax.
These amounts will be entered on Schedule 12, Part 1, under the "Non-deductible business and property expenses" section.
The following options are applicable for the keyword NonDeduct-BusExp.
Interest expenses on business property or money borrowed Interest expenses on property acquired for business or on money borrowed to earn income or to purchase an annuity contract.
Premiums on life insurance policies as collateral Premiums on life insurance policies used as collateral for money borrowed to earn income from property or business.
Financing expenses on money borrowed Financing expenses on money borrowed to earn income from property or business.
Investment counsel fees under paragraph 20(1)(bb) Investment counsel fees under paragraph 20(1)(bb) needed to calculate the adjusted taxable income for minimum tax. This amount is included at field 21 of the T3 return.
Use the keyword Foreign-Inc.mt to enter specific amounts affecting the calculation of the special foreign tax credit.
These amounts will be entered on Schedule 12, Part 2.
The following options are applicable for the keyword Foreign-Inc.mt.
Tax-Shelter.mt carrying charges from the acquisition of an interest in a partnership or tax shelter
The following options are applicable for the keyword Tax-Shelter.mt.
Use the keyword MinTax-CarryOver to enter amounts in Part 7 for the calculation of the total minimum tax carryover that are not automatically entered by DT Max T3.
The following options are applicable for the keyword MinTax-CarryOver.
Use the keyword MinTax-CF to enter the jurisdiction from which the AMT is carried forward.
DT Max will automatically calculate any alternative minimum tax payable. However, in order for the calculations to be reliable, you must enter the amount of AMT the first year that is it being carried forward.
Please verify that the carryforwards calculated by the program match the CRA's records.
The following options are applicable for the keyword MinTax-CF.
Amount.mt year and amount of minimum tax carryforward
The following options are applicable for the keyword Amount.mt.
1st prior year
2nd prior year
3rd prior year
4th prior year
5th prior year
6th prior year
7th prior year
DT Max will not automatically calculate any alternative minimum tax payable.
In order to apply any alternative minimum tax carried forward from prior years, use the keyword AMT-CF-OV.
MinTax-Hist year applicable
The following options are applicable for the keyword MinTax-Hist.
1st prior year
2nd prior year
3rd prior year
4th prior year
5th prior year
6th prior year
7th prior year
8th prior year
9th prior year
10th prior year
11th prior year
12th prior year
13th prior year
14th prior year
15th prior year
16th prior year
17th prior year
18th prior year
19th prior year
20th prior year
Use the keyword Amount.amt to enter the historical amounts of minimum tax. This information is required in order to calculate the Ontario minimum tax carryover on Schedule 12A (Chart 2).
The following options are applicable for the keyword Amount.amt.
Federal additional taxes paid for minimum tax If this option is chosen, the amount entered should be the additional federal minimum taxes paid in that year.
Federal minimum tax carryover applied If this option is chosen, the amount entered should be the federal minimum tax carryover from line 11130 of schedule 11.
Ontario additional taxes paid for minimum tax If this option is chosen, the amount entered should be the additional Ontario minimum taxes paid in that year from line 13402 of form T3ON.
Total Ontario minimum tax cf applied If this option is chosen, the amount entered should be the Ontario minimum tax carryover from line 13416 of form T3ON.
Total minimum tax carryover available at the end of 2024 If this option is chosen, the amount should be the total minimum tax carryover available at the end of 2024 which is required to calculate the Yukon minimum carryover for 2025 onward.
Adjust-Exp adjustment of the investment expenses for minimum tax purposes (Qc)
The following options are applicable for the keyword Adjust-Exp.
Total adjustment of investment expenses (Sch.B l.350/355)
Re-adjustment of investment expenses
Re-adjustment of the carryover of investment expenses
Unused portion of re-adjust of inv. exp for CF (end of yr)
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MinTax-Exempt 
MinTax-CF 
Amount.mt