Preparing Your Trust Tax Returns provides comprehensive coverage and an in-depth analysis of all rules and interpretations relating to trusts and beneficiaries.
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Recognized as the industry standard by tax professionals across Canada, Preparing Your Trust Tax Returns provides comprehensive coverage and an in-depth analysis of all rules and interpretations relating to trusts and beneficiaries that are relevant to reporting requirements. Full of how-to advice, tax planning tips, and quick answers to all of your challenging questions, it's the best way to stay on top of the latest issues and updates relevant to trust returns. Now, Wolters Kluwer offers you full access to a collection of these books for previous taxation years - perfect for when you need to prepare tax returns for previous years, or look up how items were treated in the past.
Includes:
Electronic (PDF) versions of all Preparing Your Trust Tax Returns books for the 2008-2016 taxation years, available from IntelliConnect
Features & Coverage:
In-depth coverage of all aspects relating to trust tax returns (T3s)
Hundreds of references to CRA documents, legislation, and cases for further consultation and to ensure you have consulted all relevant material
Table of Contents: (varies slightly from year to year)
How to Use Preparing Your Trust Tax Returns
List of Forms and Other Documents Reproduced
Chapter 1 - Introduction
Trust Basics
Basic Types of Trusts
Determining Whether a Trust Exists
Parties to a Trust
Purpose Trusts and Charitable Purpose Trusts
Chapter 2 - Filing a Trust Income Tax Return and Related Matters
Filing Requirements
Payment of Tax
Penalties
Assessments, Objections and Appeals
Taxpayer Relief Provisions
Reportable Transactions
Other Considerations
Chapter 3 - Types of Trusts
Testamentary Trusts
Inter Vivos Trusts
Chapter 4 - Total Trust Income
Capital Gains and Losses
Pension Income
Dividends from Taxable Canadian Corporations
Foreign Investment Income
Other Investment Income
Business, Farming, Fishing, and Rental Income
NISA Fund No.2
Income Resulting from the Deemed Disposition Rules (The 21-Year Rule)
Other Income
Chapter 5 - Net Income
Deduction of the Trust's Investment Expenses for the Year
Income Payable (or Paid or Allocated) to Beneficiaries and Subsection 105(2) Expenses
Payable rule for trusts with beneficiaries under the age of 21
Split income of Minor Beneficiary
Preferred Beneficiary Election
Gross-Up of Retained Dividends or Those Not Designated
Adjustment of Investment Expenses (Quebec only)
Chapter 6 -Taxable Income
Ordinary Losses of Other Years (Including Farming and Fishing Losses)
Net Capital Losses of Other Years
Carryback of Current Year Losses to Previous Years
Capital Gains Exemption for Spousal or Common-Law Partner Trust
Non-profit organizations
Treaty-Exempt Income
Chapter 7 - Tax and Credits
Federal Tax Payable (Schedule 11)
Provincial or Territorial Tax or Federal Surtax Payable
Part X11.2 Tax (Schedule 10)
Other (Refundable) Credits
Part XIII and XIII.2 Withholding Tax for Distributions to Non-Resident Beneficiaries
Taxes under Other Parts in Respect of Certain Deferred Income Trusts and Other Trusts
Chapter 8 -Selected Tax Issues
Estates and Pipeline Strategies (New for the 2018 edition)
Residence of Trusts
Trusts Deemed Resident in Canada
Taxation Year of a Trust
Deemed Dispositions of Trust Property
Distribution of Trust Property to Beneficiaries
The Attribution Rules
"Beneficially Interested"
The Reversionary/Revocable Trust Attribution Rules
Tax on Split Income of Minor Children
Qualifying Dispositions to Trusts
Clearance Certificate Prior to Distribution of Property Section 116 Clearance Certificate in Respect of an Interest in a Trust
Appendix 1 - Forms Appendix 2 - Folios, Bulletins and Circulars Appendix 3 - CRA and Quebec Guides Topical Index