How to complete Schedule 9 ▲
Report allocated income using the columns provided:
Column 1 - income paid or payable to resident
beneficiaries
Column 2 - income paid or payable to non-resident
beneficiaries
Column 3 - income allocated by a preferred beneficiary
election
For more information, see the appropriate column heading in the following sections. Any amounts allocated to a beneficiary on lines 921 to 926 and on line 949 are generally deducted from the trust's income.
Before allocating income to the beneficiaries, you must first take into consideration the trust's expenses. If the trust claimed expenses on line 20 of the T3 return, deduct them from the specific source of income to which the expense relates. If the expense relates to more than one source of income, you must divide it between the applicable sources of income. The trust can then allocate the remaining income to the beneficiaries.
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