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Published | Category : Income tax - individuals

Amendments to the Obligation on Certain Trusts to File a Return

Additional situations where a trust is required to file an income tax return

The tax legislation will be amended so that a trust (other than an excluded trust) that is subject to Québec income tax for a taxation year is required to file an income tax return for that year if it meets one of the following conditions:

  • In calculating its income for the taxation year, the trust deducts an amount allocated to a beneficiary, regardless of the beneficiary's place of residence.
  • The trust is resident in Québec on the last day of the taxation year and owns at some time in that taxation year, property the total of whose cost amounts exceeds $250,000.
  • The trust is not resident in Québec on the last day of the taxation year and owns at some time in that taxation year, property that was used in carrying on a business in Québec the total of whose cost amounts exceeds $250,000.

These amendments to the tax legislation apply to a trust for its taxation years that begin after November 20, 2012.

For further information, see page H.50 in the Budget Plan, published by the Ministère des Finances et de l’Économie.

Addition of an obligation on a trust to file an information return

The tax legislation will be amended so that a trust (other than an excluded trust) that is resident in Canada outside Québec during a taxation year and that owns a specified immovable (or is a member of a partnership that owns a specified immovable) at some time in that taxation year is required to file, for the taxation year, an information return with Revenu Québec.

The term "specified immovable" means an immovable, including a right in the immovable, that is located in Québec and that is used mainly to earn gross revenue that constitutes rent.

These amendments to the tax legislation apply to a trust for its taxation years that begin after November 20, 2012.

For further information, see page H.51 in the Budget Plan, published by the Ministère des Finances et de l’Économie.

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