Free untitled - Canada

T3 ­

RESERVES ON DISPOSITIONS OF CAPITAL PROPERTY

SCHEDULE 2

¼ ¼

Enter the applicable tax year in the box above. Include a completed copy of this schedule with the trust's return. Complete this schedule if you claimed a reserve on the disposition of the trust's capital property at the end of the previous year, or if you are claiming a reserve on the disposition of the trust's capital property at the end of the current tax year. Use the information from this schedule to complete Schedule 1, Dispositions of Capital Property, Schedule 3, Eligible Taxable Capital Gains, and Schedule 12, Minimum Tax. A trust cannot claim a reserve if, at the end of the year or at any time in the year immediately following, it was not a resident of Canada or was exempt from tax. This restriction does not apply to a charitable gift of a non-qualifying security. In most cases, you can only claim a reserve for four years. However, if the disposition occurred before November 13, 1981, there is an exception. There is also a maximum amount you can claim as a reserve. Contact us for more information.

¼

¼

¼

Reserves on dispositions of capital property For dispositions that occurred after November 12, 1981, of:
¼ ¼ ¼ ¼ ¼

1 Previous-year reserve
2352 ¼ 2352

2 Current-year reserve

3 Column 1 minus column 2
(see Notes below)

Qualified farm property before March 19, 2007 Qualified farm property after March 18, 2007 Qualified fishing property before March 19, 2007 Qualified fishing property after March 18, 2007 Qualified small business corporation shares before March 19, 2007 Qualified small business corporation shares after March 18, 2007 Other property

2351 2361 2311
2371 2371 ¼

1 2 3 4 5 6 7 8

2362 2312
2372 ¼ 2372

2321
2381 2381 ¼ 2341 2341 ¼ 2151 2151 ¼

2322
2382 ¼ 2382 2342 ¼ 2342 2152 ¼ 2152

¼

¼

For dispositions that occurred before November 13, 1981

Total (add lines 1 to 8)

2363 ¼ 2363

9

Notes
¼

Transfer the total from column 3 (line 9) to line 15 of Schedule 1. If the amount in column 2 is more than the amount in column 1, use brackets in column 3 to show the negative amount.

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A trust that makes a gift of a non-qualifying security can claim a reserve not exceeding the eligible amount of the gift. Include the reserve on line 3. For more information and an explanation of eligible amount, see Guide T4037, Capital Gains.

T3 SCH 2 (08)
Printed in Canada

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