Trusts That Must File a Return Even if the Amount of Income Tax Payable Is Nil

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In the following cases, a resident trust or a deemed resident trust is subject to the obligation to file an income tax return even if the amount of income tax is nil:

  • The trust has no income tax payable for the year only because it is deducting a loss from a previous year. 
  • The trust is required to report a capital gain for the year, or sold property in the year. 
  • The trust granted a benefit with a value of more than $100 to a beneficiary for upkeep expenses, maintenance expenses or taxes related to property used by the beneficiary (for more information, see the instructions for line 74 in the Guide to Filing the Trust Income Tax Return [TP-646.G-V]).
  • The trust received income, gains or profits intended for a beneficiary that is an individual resident in Québec or a corporation with an establishment in Québec, and its total income, as entered on line 63 of its return, exceeds $500, or the income to be allocated to a beneficiary exceeds $100. 
  • The trust is not an excluded trust and, as applicable: 
    • in calculating its income, the trust is deducting an amount allocated to a beneficiary (that is, an amount referred to in points 1, 2, 4 and 5 of section 5.3.1 of the Guide to Filing the Trust Income Tax Return [TP-646.G-V]) that exceeds $100, whether or not the beneficiary is resident in Québec,
    • on the last day of the taxation year, the trust is resident in Québec and the total of the cost amounts of property it owns at some time in that year exceeds $250,000, or 
    • on the last day of the taxation year, the trust is not resident in Québec and the total of the cost amounts of property that it owns at some time in that year and uses in carrying on a business in Québec exceeds $250,000. 
  • The trust is an amateur athlete trust.
  • The trust is deemed to have been established by a religious organization that elected to allocate all of its income to its beneficiaries. 
Trust information return

A trust (other than an excluded trust) that is resident in Canada, outside Québec, at the end of a taxation year and that, at some time in the year, was the owner of a specified immovable (or a member of a partnership that owned such an immovable) must file form TP-646.1-V, Trust Information Return.

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