Forms & Schedules

T3 Tax Form: Trust Income in Canada

What is a T3 tax form?

You receive a T3 Statement of Trust Income Allocations and Designations if you have investment income from mutual funds in non-registered accounts and from certain trusts. In Québec, you receive a relevé 16. The income may come from your own investments or from an estate trust as inheritance tax.

When will I receive my T3 tax slip?

In most cases, you will receive it by the end of March every year.

What kind of investments are reported on a T3?

T3 slips show income from different investment sources such as interest, dividend, and capital gains. All these types of income are taxed at different rates. Each of these investment types will be reported differently in your income tax return.

I invested in several mutual funds but I received only one T3. Why?

All the trust income will be added together and reported on a single T3 or relevé 16 slip if they are managed by the same broker or financial institution. Otherwise, you might get separate T3 slips from different brokers.

Is income that I reinvested taxable?

Yes, it is, even though the income was not paid in cash and was used to buy more units.

Are there times when I had income but will not get a T3 or a relevé 16?

Mutual fund companies do not issue those slips if the interest earned or “other income” (usually interest) is less than $50, or if dividends and capital gains are less than $1.00.

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