Dates and location

Registration open until
December 31, 2026
Location
On Demand
Access time
Accessible for 90 days after registration

Pricing

$319.00
Member
$319.00
Student
$380.00
Public
$220.00
Personal PD Passport Pricing
ADD TO CART

Hours

PD hour(s)
5.5 hours
Ethics hour(s) included
0 hours
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Canadian Trust Reporting: Taxation, Compliance & Planning

On Demand (e-Learning)

Canadian Trust Reporting: Taxation, Compliance & Planning

Home

›

Taxation

›

Canadian Trust Reporting: Taxation, Compliance & Planning

On Demand (e-Learning)

Canadian Trust Reporting: Taxation, Compliance & Planning

Dates and location

Registration open until
December 31, 2026
Location
On Demand
Access time
Accessible for 90 days after registration

Pricing

$319.00
Member
$319.00
Student
$380.00
Public
$220.00
Personal PD Passport Pricing
ADD TO CART

Hours

PD hour(s)
5.5 hours
Ethics hour(s) included
0 hours

Description

This practical course contains 2025 updates and provides a comprehensive and hands-on overview of Canadian trust reporting using real-world examples and CRA-compliant procedures. Participants will explore every stage of trust setup and compliance, from understanding the legal foundations of trusts to preparing and filing the T3 Return and supporting schedules (Schedules 1–15) using CRA’s electronic system.

The session emphasizes not only taxation and compliance rules but also practical application through forms, examples, and exercises. Participants will gain the skills to interpret trust deeds, compute trust income, allocate income to beneficiaries, and handle complex reporting situations such as 21-year deemed dispositions, graduated rate estates, and new beneficial ownership disclosure rules.

Note: No software installation is required; the course demonstrates the process using examples and CRA forms.

Topics Include:

Topic Details
Module 1:
Foundations of Trusts
  • Definition and nature of a trust vs. a contract.
  • Key parties: settlor, trustee, and beneficiaries.
  • Testamentary vs. inter vivos trustsDiscretionary, spousal, alter-ego, and joint partner trusts.
  • Graduated Rate Estate (GRE) rules.
Module 2:
Taxation of Trusts
  • Separate taxpayer concept.
  • Determining trust residence (CRA’s “central management and control” test).
  • Transfers of property to a trust and qualifying dispositions under s.107.4.
  • Rollovers under s.73(1) and conditions for spousal, alter-ego, and joint trusts.

Module 3:
Computation of Trust Income
&
Deductions and Losses

Computation of Trust Income

  • Trust income calculation and deductions.
  • Dividend and capital gain reporting.
  • Handling reserves for proceeds not yet received.
  • Capital vs. income beneficiary treatment.
  • Schedule 8 reporting, gross-up, and dividend tax credit calculations.

Deductions and Losses

  • Deductibility of carrying charges, trustee and legal fees.
  • Allowable Business Investment Losses (ABIL).
  • Non-capital and net capital loss carryforward and carryback (T3A process).
  • Upkeep and benefits to beneficiaries.
Module 4:
Beneficiary Taxation and Allocations
  • Subsection 104(13) taxation in beneficiary’s hands.
  • Designations under ss.104(19)-(22), (27).
  • Preferred beneficiary elections (s.104(12)/(14)).
  • Schedule 9 reporting for allocations.
  • Tax on Split Income (TOSI) rules for minors and adults.
Module 5:
Dispositions and Deemed Dispositions
  • Disposing of income or capital interests.
  • 21-year deemed disposition rule (s.104(4)).
  • Planning to defer tax: rollouts under s.107(2).
  • Subsection 75(2) attribution and its impact on rollovers.
Module 6:
New Trust Reporting Requirements
  • Bill C-32 implementation of beneficial ownership disclosure.
  • Express vs. bare trusts.
  • Detailed trustee, settlor, and beneficiary information.
  • CRA penalty relief and administrative guidance.
Module 7:
Planning With Trusts
  • QSBC share ownership through trusts and capital gains deduction.
  • Cumulative Net Investment Loss (CNIL) and Schedule 4 reporting.
  • Principal residence exemption rules for trusts.
  • Post-mortem 164(6) loss carrybacks.
Module 8:
Administrative Compliance
  • Trust account registration using T3APP.
  • CRA reassessment periods and penalties.
  • Trustee responsibilities and clearance certificates.
  • Filing T3 slips and T3 Summary.
  • Dealing with CRA objections and correspondence.

Case Study
  • Completion of a Trust Return

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Key Takeaways

Upon completion of this course, learners will be able to:

  • Understand the tax, legal, and administrative framework for Canadian trusts.
  • Prepare and file the T3 Return and related CRA schedules with confidence.
  • Correctly allocate and designate trust income to beneficiaries under section 104.
  • Identify planning opportunities and compliance traps (e.g., 21-year rule, s.75(2) attribution).
  • Apply new Schedule 15 reporting requirements for beneficial ownership.
  • Manage post-mortem and ongoing trust taxation, including 164(6) loss carrybacks and QSBC gains.

Who Will Benefit

This course will benefit:

  • CPAs and senior tax staff responsible for preparing or reviewing T3 trust returns.
  • Accountants (Non-CPAs/Bookkeepers) transitioning from T1/T2 work into trust taxation and compliance.
  • Financial advisors involved in estate, succession, or trust planning.
  • Executors and liquidators responsible for trust and estate tax compliance.

How to Access the Course

New mobile learning! Download Blackboard Learn from your app store (iOS or Android). Learn more.

To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.

Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.

Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.

Speaker(s)

Haroon Khan is an experienced tax professional, having served over 14 years at the world’s leading accounting firms, including the Big 4, as Senior Tax Manager and Tax Partner. Haroon obtained his BBA degree from U of T before qualifying as a CPA, CA in Canada and as a U.S. CPA. He has also completed all three parts of CPA Canada’s In-Depth Tax Program. Haroon is a passionate instructor. He develops and trains fellow tax professionals as an instructor with various CPA Canada educational programs, including Professional Development seminars, Professional Education, and In-Depth Tax Programs. He is also a lecturer at the Schulich School of Business, where he has taught both MBA and BBA students.

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