Fundamentals of Filing Trust Returns

Knowledge Bureau Certificate Courses


Categories: Tax Planning

Your Instructors: Walter Harder


PROGRAM: Tax Services Specialist

CONTENT DESCRIPTION AND KEY CONCEPTS:

This course introduces the types of trust that may be created in Canada and how each of them is taxed.  Students will learn how to prepare T3 returns as part of the case study exercises in the course.  Case studies include the preparation of trust returns, slips, and slip summaries for trusts with tax years ending in 2017.

The students will also learn how to optimize taxes payable on income earned by at trust by choosing to pay the taxes through the trust or allocating income to beneficiaries and having them pay the taxes on those allocations.

The Trust Tax Estimator tool, provided with this course, will help you to minimize taxes on trust income.  This tool will allow you to determine whether the trust or beneficiary will pay more taxes on allocated income so that tax can be paid by the trust before allocation if the beneficiary would have to pay more tax than the trust.

CERTIFIED SKILLSETS:

Upon completion of this course, students will be familiar with the taxation of various trusts and be able to prepare T3 trust returns and prepare T3 slips for beneficiaries.

MARKS ALLOCATION:

Quizzes 25%
Case Studies 50%
Final Exam 25%
Passing Grade 60%
Honours Achievement 90%

 

A mark of 60% is required to pass the course. All students who pass the course will receive a certificate. Students who receive a mark of 90% or better will receive a gold Honours bar on their certificate.

Additional Resources :

EverGreen Explanatory Notes

Knowledge Bureau Calculators:
• Trust Tax Estimator
• Income Tax Estimator

Software:
• TaxCycle T3
• ProFile T3
• DTMax T3


Related Programs

Diploma
Distinguished Financial Advisor

Table of Contents

:
Introduction to Trusts
:
The T3 Return
:
Identification
:
Income of the Trust
:
Deductions
:
Dealing with Losses
:
Allocation of Trust Income
:
Calculation of Tax
:
Filing
:
Other Topics

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