T3 Trust - Federal (T4013) tax guide index by line numbers
T3 - Trust Guide - 2024
What's new for 2024
Before you start
Definitions
Chapter 1 - General information
Types of trusts ▲
Code number for the type of trust
Who should file ▲
What to file ▲
When to file ▲
How to file the T3 return ▲
Penalties and interest ▲
After you file ▲
Chapter 2 - Completing the T3 return
Step 1 - Identification and other required information ▲
Reporting foreign income and property
Other required information
Step 2 - Calculating total income: Lines 1 to 14
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 ▲
Line 6 - Business income
Line 7- Farming or fishing income
Line 8 - Rental income
Line 9 - AgriInvest Fund 2 payments
Line 10 - Deemed dispositions income or losses
Line 11 - Non-deductible or add-back amounts of interest and financing expenses
Line 12 - (For future use by the CRA)
Line 13 - 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 ▲
Line 6 - Business income
Line 7- Farming or fishing income
Line 8 - Rental income
Line 9 - AgriInvest Fund 2 payments
Line 10 - Deemed dispositions income or losses
Line 11 - Non-deductible or add-back amounts of interest and financing expenses
Line 12 - (For future use by the CRA)
Line 13 - Other income ▲
Step 3 - Calculating net income: Lines 15 to 33
Line 16 - Carrying charges and interest expenses ▲
Lines 17 to 18 - Trustee fees
Line 20 - Allowable business investment loss (ABIL)
Line 21 - Other deductions from total income
Line 24 - Upkeep, maintenance, and taxes of a property used or occupied by a beneficiary
Line 25 - Value of other benefits to a beneficiary
Lines 27, 28 and 29 - Total income allocations and designations to beneficiaries ▲
Lines 17 to 18 - Trustee fees
Line 20 - Allowable business investment loss (ABIL)
Line 21 - Other deductions from total income
Line 24 - Upkeep, maintenance, and taxes of a property used or occupied by a beneficiary
Line 25 - Value of other benefits to a beneficiary
Lines 27, 28 and 29 - Total income allocations and designations to beneficiaries ▲
Step 4 - Calculating taxable income: Lines 34 to 47
Line 35 - Non-capital losses of other years
Line 36 - Net capital losses of other years
Lines 37 to 43 - Other deductions to arrive at taxable income
Line 42 - Restricted interest and financing expenses of other years
Line 46 - (For future use by the CRA)
Line 36 - Net capital losses of other years
Lines 37 to 43 - Other deductions to arrive at taxable income
Line 42 - Restricted interest and financing expenses of other years
Line 46 - (For future use by the CRA)
Step 5 - Summary of tax and credits: Lines 48 to 79
Line 49 - Total federal tax payable ▲
Line 50 - Provincial or territorial tax payable ▲
Line 53 - Tax paid by instalments ▲
Lines C, D and 54 - Total tax deducted ▲
Line 57 - Clean technology investment tax credit (Form T1098)
Line 58 - Capital gains refund
Line 59 - Part XII.2 tax credit
Line 75 - Total other credits
Line 77 - Balance owing or refund ▲
Line 78 - Amount enclosed ▲
Line 79 - Refund code ▲
Line 50 - Provincial or territorial tax payable ▲
Line 53 - Tax paid by instalments ▲
Lines C, D and 54 - Total tax deducted ▲
Line 57 - Clean technology investment tax credit (Form T1098)
Line 58 - Capital gains refund
Line 59 - Part XII.2 tax credit
Line 75 - Total other credits
Line 77 - Balance owing or refund ▲
Line 78 - Amount enclosed ▲
Line 79 - 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, 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 11 - Non-qualified investments by 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 13 - T3 information slips - Capital gains (or losses)
Line 14 - T5, T4PS, and T5013 information slips - Capital gains (or losses) Information slips
Line 16 - Capital losses that do not qualify as a business investment loss
Line 18 - Reserves on dispositions of capital property reported on Schedule 2
Line 20 - Capital gains on gifts of certain capital property eligible for the 0% inclusion rate
Line 23 - Total capital losses transferred under subsection 164(6) of the Act
Line 45 - 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, 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 11 - Non-qualified investments by 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 13 - T3 information slips - Capital gains (or losses)
Line 14 - T5, T4PS, and T5013 information slips - Capital gains (or losses) Information slips
Line 16 - Capital losses that do not qualify as a business investment loss
Line 18 - Reserves on dispositions of capital property reported on Schedule 2
Line 20 - Capital gains on gifts of certain capital property eligible for the 0% inclusion rate
Line 23 - Total capital losses transferred under subsection 164(6) of the Act
Line 45 - Total taxable capital gains (or net capital losses)
Form T1055, Summary of Deemed Dispositions
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 ▲
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, Part XIII Non-Resident Withholding Tax, and Part II.2 Tax on Repurchases of Equity
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 14 to 16 - Federal dividend tax credit ▲
Line 17 - Donations and gifts tax credit ▲
Line 20 - Minimum tax carryover from previous years
Line 22 - Surtax on income not subject to provincial or territorial tax
Line 24 - Federal foreign tax credit
Line 26 - Allowable federal political contribution tax credit
Line 26 - Investment tax credit
Line 33 - Additional tax on RESP accumulated income payments
Line 35 - Refundable Quebec abatement ▲
Line 11 - Federal recovery tax ▲
Lines 14 to 16 - Federal dividend tax credit ▲
Line 17 - Donations and gifts tax credit ▲
Line 20 - Minimum tax carryover from previous years
Line 22 - Surtax on income not subject to provincial or territorial tax
Line 24 - Federal foreign tax credit
Line 26 - Allowable federal political contribution tax credit
Line 26 - Investment tax credit
Line 33 - Additional tax on RESP accumulated income payments
Line 35 - 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
T3 Schedule 130 - Excessive Interest and Financing Expenses Limitation
Chapter 4 - T3 slip and T3
How to complete the T3 slip ▲
Appendix A - T3 slip and T3 Summary
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