Free untitled - Canada

T3D INCOME TAX RETURN FOR DEFERRED PROFIT SHARING PLAN (DPSP) OR REVOKED DPSP
As trustee for a trust governed by a DPSP, you have to complete this return every year. Complete all applicable schedules. Enter "Nil" in any area of a schedule you attach that does not apply. Send the completed return to the Ottawa Technology Centre, 875 Heron Road, Ottawa ON K1A 1A2, no later than 90 days from the end of the tax year. If you do not file this return on time, we may impose penalties and charge interest on any amount owing. The sections, subsections, and paragraphs we refer to are from the Income Tax Act. If, at any time in the tax year, the plan was a revoked plan under subsection 147(14) or 147(14.1), the income of the trust may be subject to tax. To report taxable income or claim a Part XII.2 tax credit, complete a T3 Trust Income Tax and Information Return. You can get a copy of the T4013, T3 Trust Guide and the T3 Trust Forms Package from our Web site at www.cra.gc.ca.
Name of plan Account number (if one has been assigned)

T
Name of trustee filing this return Plan registration number

Mailing address of trustee

Telephone number

Address where the trust keeps its books and records (if different from address above)

Return for tax year

Names of other trustees

Province or territory of residence of the plan

Give the date the trust:

came into existence (effective date of registration) Year Month Day

ceased to exist Year Month Day

If it was a revoked plan in the tax year, give the effective date of revocation.

If assets were transferred to a new trustee in the tax year, give the name of the new trustee and the date of transfer.

Year

Month

Day

Name of new trustee

Year

Month

Day

Summary of tax and refund
Tax under subsection 198(1) on non-qualified investments acquired (line 1 of Schedule 1) . . . . . . . . . . . . . . . . . . . . . . . Tax under subsection 198(1) on trust property used as security for a loan (line 2 of Schedule 1) . . . . . . . . . . . . . . . . . . . Tax under section 201 on purchase or sale for inadequate consideration (line 7 of Schedule 1) . . . . . . . . . . . . . . . . . . . . Tax under subsection 204.1(3) on excess amount (line 7 of Schedule 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tax under subsection 207.1(5) on agreements to acquire shares (line 1 of Schedule 3) . . . . . . . . . . . . . . . . . . . . . . . . . . Tax under subsection 207.1(2) on non-qualified property (line 3 of Schedule 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total tax payable (add lines 1 to 6) Minus: Payments on account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Unpaid balance of tax (line 7 minus line 8) Minus: Refund under subsection 198(4) of tax on the disposition of non-qualified investments (line 1 of Schedule 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 060 Refund under subsection 198(5) of tax on the recovery of property given as security (line 2 of Schedule 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 070 Refund under subsection 199(2) of tax on the disposition of initial non-qualified investments (line 9 of Schedule 5) . . . . . . . . . . . . . . . . . . . . . . . . . . 080 Subtotal (add lines 10 to 12) Balance owing or refund (line 9 minus line 13) Generally, we do not charge or refund $2 or less. Amount enclosed Payment: Attach a cheque or money order made payable to the Receiver General. Do not mail cash. 090 095 100 105 110 115 140 150 190 010 e e e e e 1 2 3 4 5 6 7 8 9

10 11 12 13 14 15

Certification
I,
Print name

, of
Address

certify that the information given in this return is, to the best of my knowledge, correct and complete.
Signature of authorized official T3D E (09) Position or title (Ce formulaire est disponible en français) Telephone number Date

2

Schedule 1 ­ Complete areas that apply to the trust. Attach a separate sheet if required.
Area A ­ Non-qualified investments acquired in the tax year
Complete this area if the trust acquired non-qualified investments as defined in section 204, even if the investments were disposed of during the tax year. The payment due date for tax on non-qualified investments is 10 days after the investments were acquired.
Description of investment Date acquired Fair market value at date of acquisition

Tax on non-qualified investments (100%). Enter this amount on line 1 on page 1.

1

Area B ­ Trust property used as security for a loan in the tax year
Complete this area if the trust used trust property as security for a loan in the tax year, even if the loan ceased to exist during the tax year. The payment due date for tax on property used as security for a loan is 10 days after the property is used as security.
Description of property Date first used as security Fair market value at date first used

Tax on property used as security for a loan (100%). Enter this amount on line 2 on page 1.

2

Area C ­ Purchase or sale for inadequate consideration
Complete this area if, during the tax year, the trust disposed of property below fair market value or acquired property for more than fair market value. Section 1 ­ Disposition of trust property below fair market value
(a) Description of property (b) Date of disposition (c) Fair market value at date of disposition (d) Proceeds of disposition (e) (c) minus (d)

Amount subject to tax. To be included in the income of whoever acquired it.

3

Section 2 ­ Acquisition of trust property above fair market value
(a) Description of property (b) Date of acquisition (c) Cost of property to trust (d) Fair market value at date of acquisition (e) (c) minus (d)

Amount subject to tax. To be included in the income of whoever disposed of it.

4

Total amount subject to tax (line 3 plus line 4) Tax where inadequate consideration given on purchase or sale (multiply line 5 by line 6) Enter this amount on line 3 on page 1.

210

q

50%
q

5 6 7

3

Schedule 2 ­ Tax under subsection 204.1(3) on excess amount
Complete this schedule if any of the following conditions apply: the trust had an excess amount at the end of the preceding year; the trust received a gift after May 25, 1976; or a beneficiary made a contribution that was not returned to the beneficiary before the end of a month. An excess amount at the end of a month represents the total contributions that a beneficiary made that were not returned to the beneficiary before the end of the month plus the total gifts made to the trust after May 25, 1976, and before the end of the month. Do not include in column (c), contributions transferred to the plan on a tax-free basis under subsection 147(19) or contributions that were deducted by the beneficiary under paragraph 60(k) in 1990 or before. Before you complete Area A below, answer the following question: In what years were excess contributions made? _______________________________ Area A ­ Complete a separate Area A for each beneficiary who contributed to the DPSP if the contributions represent an
excess amount for the trust.
Name of beneficiary Social insurance number

Area B ­ Complete
this area only once.

(a)

(b) Amount from column (f) for the previous month. For January, use December of the previous year.

(c) Total contributions made by a beneficiary during the month

(d) (b) plus (c)

(e) Contributions returned to the beneficiary during the month

(f) (d) minus (e)

(g) Aggregate of gifts made to the trust after May 25, 1976, and before the end of month

January February March April May June July August September October November December

Amount subject to tax

1

2

Area C ­ Amount subject to tax Total amount subject to tax for all beneficiaries for which you completed Area A (line 1 above) . . . . . . . . . . . . . Amount subject to tax for gifts in Area B (line 2 above) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Total amount subject to tax (line 3 plus line 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 215 1% Tax on excess amount (multiply line 5 by line 6). Enter this amount on line 4 on page 1.
3 4 5 6 7

Schedule 3 ­ Tax under subsection 207.1(5) on agreements to acquire shares
If the trust entered into an agreement (other than for the acquisition, or the writing by it, of an option listed on a designated stock exchange) to acquire shares of the capital stock of a corporation (other than from the corporation) at a price that differed from their fair market value when acquired, it may have to pay tax under subsection 207.1(5). If this is the case, complete Form T2000, Calculation of Tax on Agreements to Acquire Shares, and attach it to this return. Enter the amount determined on Form T2000 on line 1 below.

Tax on agreements to acquire shares. Enter this amount on line 5 on page 1.

241

1

Schedule 4 ­ Part XI.1 tax on non-qualified property
Complete this schedule if the trust held any property that, at the end of any month in the tax year, was not a qualified investment. Do not complete this schedule for any month at the end of which the trust was governed by a revoked plan. As per paragraph 207.1(2)(b), do not include in the calculation of the amount under this schedule, any non-qualified property acquired before August 25, 1972. In column (b), enter the fair market value at the time of acquisition of all property that, at the end of any month in the tax year, was not a qualified investment.
(a) As at end of (b) Fair market value at the time of acquisition of all property that is not a qualified investment at end of month (c) Fair market value at the time of acquisition of column (b) property that is subject to tax under paragraph 198(1)(c) (d) (b) minus (c)

4

January February March April May June July August September October November December

Amount subject to tax: Total of all amounts in column (d)

245

1% Part XI.1 tax on non-qualified property (multiply line 1 by line 2). Enter this amount on line 6 on page 1.

1 2 3

Schedule 5 ­ Refund of tax under subsections 198(4), 198(5), and 199(2)
Area A ­ Refund of tax on the disposition of non-qualified investments acquired after December 21, 1966
(a) Description of investment (b) Date acquired (c) Tax imposed on acquisition (d) Date of disposition (e) Proceeds of disposition (f) Amount (c) or (e), whichever is less

Refund of tax on the disposition of non-qualified investments. Enter this amount on line 10 on page 1. Area B ­ Refund of tax on the recovery of property given as security for a loan after December 21, 1966
Note: In column (e), do not use the interest portion of any loan payments made by the DPSP, or any decrease in value of DPSP property to calculate the loss.
(a) Description of property (b) Date first used as security (c) Tax imposed on use (d) Date ceased to exist (e) Net loss sustained through use (f) (c) minus (e)

1

Refund of tax on the recovery of property given as security for a loan. Enter this amount on line 11 on page 1. Area C ­ Refund of tax on the disposition of initial non-qualified investments Total taxes under subsection 199(1) paid in previous years on initial non-qualified investments . . . . . . . . . . . . . . . . . . Initial base of non-qualified investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds of disposition in all years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Line 4 minus line 5. If negative, enter "0" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Previous refunds of tax on initial non-qualified investments . . . . . . . . . . . . . . . . . . . . . . . . .
4 5 6 7

2

3

Line 6 plus line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Refund of tax on the disposition of initial non-qualified investments (line 3 minus line 8) Enter this amount on line 12 on page 1.

8 9