Colorful TAX Word On Dices on White Background

New this year for trust administrators and their reps: a simple T3 trust income tax and information return (T3RET) can be filed online using CRA’s internet file transfer service.

A simple return means the trust’s taxable income, total taxes payable and refund or balance owing are $0, says CRA’s website.

Online filing for simple trust returns is available for 2017 and later tax years. Certain conditions must be met to file a trust return online.

For more details, see CRA’s website.

Also read:

Registered plans and lifetime benefit trusts

RRSP overcontribution woes

Pay probate or income tax?

Originally published on Advisor.ca
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