Form T2075 "Election to Defer Payment of Income Tax, Under Subsection 159(5) of the Income Tax Act by a Deceased Taxpayer's Legal Representative or Trustee" - Canada

Form T2075 or the "Form T2075 "election To Defer Payment Of Income Tax, Under Subsection 159(5) Of The Income Tax Act By A Deceased Taxpayer's Legal Representative Or Trustee" - Canada" is a form issued by the Canadian Revenue Agency.

Download a PDF version of the Form T2075 down below or find it on the Canadian Revenue Agency Forms website.

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Download Form T2075 "Election to Defer Payment of Income Tax, Under Subsection 159(5) of the Income Tax Act by a Deceased Taxpayer's Legal Representative or Trustee" - Canada

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Election To Defer Payment Of Income Tax, Under Subsection 159(5) Of The Income Tax Act
By A Deceased Taxpayer's Legal Representative Or Trustee
For use by a deceased taxpayer's legal representative or trustee when electing to pay income tax in up to ten equal consecutive
annual instalments. The first instalment is required to be paid on or before the day on which payment of that tax was otherwise
payable if no election had been made.
This election is to be filed at the Tax Services Office in the area in which the taxpayer resided prior to death on or before the day on
which payment for the first of the equal consecutive annual instalments is required to be made. Include a copy of this form with the
return that contains the income subject to this election.
Security acceptable to the Minister must be provided with respect to the tax, the payment of which is being deferred. Contact the
Collections Section at the Tax Services Office in the area in which the taxpayer resided prior to death to complete security
arrangements.
Date of death
Name of deceased in full (Print)
Year
Month
Day
Last address
Social insurance number
Name(s) and address(es) of legal representative(s) (Print)
Amount of increase in taxable income by virtue of subsections 70(2), 70(5), 70(5.2) or 70(9.4)
of the Income Tax Act
$
Amount of tax subject to deferment
$
Payment to be made in instalments as follows:
Instalments to be paid or
(A) + (B)
Payment
(A)
(B) Interest on Instalment
(C)
Due not later than (Date)
1/10th of Tax Deferred
Total Payment
1
2
3
4
5
6
7
8
9
10
At the time of payment of any amount, payment of which is deferred by this election, the taxpayer shall pay to the Receiver General
interest, compounded daily, on the amount at the prescribed rate in effect at the time the election is made.The interest is computed
from the day on or before which the amount would, but for the election, have been required to be paid to the day of payment.
Note: Payment of the first instalment as required, on or before the date that the tax would, but for the election, have been required
to be paid, attracts no interest on the amount of that instalment.
ELECTION
I/We, in the capacity of
(Legal Representative(s) or Trustee(s))
HEREBY ELECT to have the provisions of subsection 159(5) of the Income Tax Act applied in accordance with the terms set forth
above.
Signature
Date
Date
Signature
Date
Signature
Form authorized by the Minister of National Revenue
T2075 E (16)
(Vous pouvez obtenir ce formulaire en français à www.arc.gc.ca/formulaires ou en composant le 1-800-959-7383.)
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Help
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Election To Defer Payment Of Income Tax, Under Subsection 159(5) Of The Income Tax Act
By A Deceased Taxpayer's Legal Representative Or Trustee
For use by a deceased taxpayer's legal representative or trustee when electing to pay income tax in up to ten equal consecutive
annual instalments. The first instalment is required to be paid on or before the day on which payment of that tax was otherwise
payable if no election had been made.
This election is to be filed at the Tax Services Office in the area in which the taxpayer resided prior to death on or before the day on
which payment for the first of the equal consecutive annual instalments is required to be made. Include a copy of this form with the
return that contains the income subject to this election.
Security acceptable to the Minister must be provided with respect to the tax, the payment of which is being deferred. Contact the
Collections Section at the Tax Services Office in the area in which the taxpayer resided prior to death to complete security
arrangements.
Date of death
Name of deceased in full (Print)
Year
Month
Day
Last address
Social insurance number
Name(s) and address(es) of legal representative(s) (Print)
Amount of increase in taxable income by virtue of subsections 70(2), 70(5), 70(5.2) or 70(9.4)
of the Income Tax Act
$
Amount of tax subject to deferment
$
Payment to be made in instalments as follows:
Instalments to be paid or
(A) + (B)
Payment
(A)
(B) Interest on Instalment
(C)
Due not later than (Date)
1/10th of Tax Deferred
Total Payment
1
2
3
4
5
6
7
8
9
10
At the time of payment of any amount, payment of which is deferred by this election, the taxpayer shall pay to the Receiver General
interest, compounded daily, on the amount at the prescribed rate in effect at the time the election is made.The interest is computed
from the day on or before which the amount would, but for the election, have been required to be paid to the day of payment.
Note: Payment of the first instalment as required, on or before the date that the tax would, but for the election, have been required
to be paid, attracts no interest on the amount of that instalment.
ELECTION
I/We, in the capacity of
(Legal Representative(s) or Trustee(s))
HEREBY ELECT to have the provisions of subsection 159(5) of the Income Tax Act applied in accordance with the terms set forth
above.
Signature
Date
Date
Signature
Date
Signature
Form authorized by the Minister of National Revenue
T2075 E (16)
(Vous pouvez obtenir ce formulaire en français à www.arc.gc.ca/formulaires ou en composant le 1-800-959-7383.)