Free untitled - Canada

T3 ­ 2009 FEDERAL INCOME TAX

SCHEDULE 11

NOTE: In this form, the text inserted between square brackets represents the regular print information. For information on completing this schedule, see Chapter 3 in publication T4013, "T3 Trust Guide". Include a completed copy of this schedule with the trust's return. Enter your taxable income from line 56 of the T3 return.

1

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T3 SCH 11 ­ 1

Step 1 ­ Tax on taxable income
Testamentary trusts or grandfathered inter vivos trusts Use the amount from line 1 to determine which one of the following columns you have to complete. $40,726 or less more than $40,726, but not more than $81,452

If the amount from line 1 is: Enter the amount from line 1 on page 1 [above] Base amount Line 2 minus line 3 Tax rate Multiply line 4 by the rate on line 5 Tax on base amount Federal tax on taxable income (line 6 plus line 7)

2

­ = × = + =
T3 SCH 11 ­ 2

0 00 3 ­ 4 = 15% 5 × 6 = 0 00 7 + 8 =

40,726 00 22%

6,109 00

Testamentary trusts or grandfathered inter vivos trusts Use the amount from line 1 to determine which one of the following columns you have to complete. more than $81,452, but not more than more than $126,264 $126,264 If the amount from line 1 is: Enter the amount from line 1 on page 1 [above] Base amount Line 2 minus line 3 Tax rate Multiply line 4 by the rate on line 5 Tax on base amount Federal tax on taxable income (line 6 plus line 7)

2

­ = × = + =

81,452 00 3 ­ 4 = 26% 5 × 6 = 15,069 00 7 +

126,264 00 29%

26,720 00

8 = continue on next page

T3 SCH 11 ­ 3

Inter vivos trusts (other than grandfathered) Federal tax on taxable income Line 1

× 29% =

9

Step 2 ­ Donations and gifts tax credit
Eligible amount of all donations made after 2003 that has not been claimed in any previous year and is not included on line 16 on page 5 [below] (see the "T3 Trust Guide") 25% of taxable capital gains from gifts of capital property (see Schedule 11, line 27 in the "T3 Trust Guide") 25% of recapture of capital cost allowance (CCA) on donated depreciable property 75% of net income (Line 50 of the T3

11121

10

11123 11124

11

+ + =

12 13 14

× 3/4) =

Total charitable donations limit (add lines 11 to 13)
T3 SCH 11 ­ 4

Line 10 or line 14, whichever is less Eligible amount of any cultural, ecological, or government gifts made after 2003 and agreed to in writing before February 19, 1997, that has not been claimed in any previous year

15

11122

+ =

16 17 17A 18

Total donations and gifts (line 15 plus line 16) Donations claimed in 2009 On the first $200 or less On the remainder Donations and gifts tax credit (line 18 plus line 19) 11125

+ = = + =
11120

× 15% × 29%

19

20

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T3 SCH 11 ­ 5

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Step 3 ­ Federal tax
Federal tax on taxable income (line 8 or line 9) Tax adjustments ­ Lump-sum payments under ITAR 40 (see Schedule 11, line 22 in the "T3 Trust Guide") Adjusted federal tax (line 21 plus line 22) Federal dividend tax credit Dividend tax credit for eligible dividends (line 24 of Schedule 8 11080 21

11090

+ =

22 23

× 61.1111%) =
Dividend tax credit for dividends other than eligible dividends (line 31 of Schedule 8

11108

24

× 66.6667%) =

11109

+

25

T3 SCH 11 ­ 6

Total federal dividend tax credit (line 24 plus line 25)

11110

=
26

Donations and gifts tax credit (from line 20) Total credits (line 26 plus line 27)

+ = ­

27

28 29 30 31

Subtotal (line 23 minus line 28; if negative, enter "0") Minimum tax carryover from previous years (line 72 of Schedule 12) Basic federal tax (line 29 minus line 30; if negative, enter "0") 11130 11150

= ­ =

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T3 SCH 11 ­ 7

Surtax on income not subject to provincial or territorial tax (part of line 31 not subject to these taxes

× 48%) =
Subtotal (line 31 plus line 32) Federal foreign tax credit (available to resident trusts only; attach Form T2209, "Federal Foreign Tax Credits") Total federal political contributions Allowable federal political contribution tax credit (from the calculation for Schedule 11, line 36 in the "T3 Trust Guide")

11160

+ =

32 33

11180 11191 35

34

11190

+

36

T3 SCH 11 ­ 8

Investment tax credit (from Form T2038(IND), "Investment Tax Credit (Individuals)") Federal logging tax credit for British Columbia Federal environmental trust tax credit Federal logging tax credit for Quebec Total credits (add lines 34, and 36 to 40)

11200 11210 11213 11214

+ + + + = ­

37 38 39 40

41 42 43 44

Subtotal (line 33 minus line 41; if negative, enter "0") Additional tax on RESP accumulated income payments (attach Form T1172) Federal tax payable (line 42 plus line 43)

= + =

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T3 SCH 11 ­ 9

If minimum tax applies to the trust, continue the calculations on Schedule 12. If not, enter the amount from line 44 on line 81 of the return. Refundable Quebec abatement (see Schedule 11, line 45 in the "T3 Trust Guide") (Line 31

× 16.5%) =

45

Enter this amount on line 87 of the return.

T3 SCH 11 ­ 10