Form T3 Schedule 1A "Capital Gains on Gifts of Certain Capital Property" - Canada

ADVERTISEMENT
ADVERTISEMENT

Download Form T3 Schedule 1A "Capital Gains on Gifts of Certain Capital Property" - Canada

367 times
Rate (4.7 / 5) 22 votes
Clear Data
Protected B
when completed
T3 –
Capital Gains on Gifts of Certain Capital Property
Schedule 1A
Enter the applicable tax year in the box above.
Use this schedule to calculate the capital gains on gifts of capital property made to a qualified donee, if the property is any of the following:
• a share, debt obligation, or right listed on a designated stock exchange
• a share of the capital stock of a mutual fund corporation
• a unit of a mutual fund trust
• a prescribed debt obligation
• an interest in a related segregated fund trust
• ecologically sensitive land (such land includes a covenant or an easement; and for land in Quebec: a real servitude or a personal servitude under certain conditions)
If there is no advantage related to a gift, the full amount of the capital gain realized on the gift is eligible for an inclusion rate of zero. If there is an advantage, only part of the capital gain is eligible for the inclusion
rate of zero. The rest is subject to an inclusion rate of 50%.
An inclusion rate of zero may be applied to any capital gain realized on the exchange of a share of the capital stock of a corporation for a security listed in any of the first five bullets above that is later gifted.
Special tax treatment may also apply on a similar exchange of a partnership interest (other than a prescribed interest in a partnership). In all these cases, a special calculation is required to determine what the
capital gain will be. The capital gain should be reported on line 10 of Schedule 1, Dispositions of Capital Property.
If the trust donates property to a qualified donee, which is included in a flow-through share class of property, and the trust has an exemption threshold for the flow-through share class of property, the trust may be
deemed to have an additional capital gain from the disposition of another capital property. This additional capital gain would have a 50% inclusion rate.
For information on conditions that may apply to gifts of certain capital properties as described on this form, including the definitions of terms and special calculations for calculating capital gains where a gift involves
an exchange of shares of capital stock or partnership interests, see Pamphlet P113, Gifts and Income Tax.
Include this schedule with the trust's return. Attach all receipts to this schedule. If you need more space, attach a separate sheet of paper.
1
2
3
4
5
6
7
8
Mutual fund units and shares
Year of
Proceeds of
Adjusted
Outlays and
Gain
Eligible amount
Gain eligible for 0%
Gain subject to
acquisition
disposition
cost base
expenses
(column 2 minus
of gift
inclusion rate
50% inclusion rate
Name of fund or corporation
(from disposition)
columns 3 and 4)
(column 5 × column 6
(column 5 minus
Number
and class of shares
divided by column 2)
column 7)
+
+
+
+
+
+
+
+
+
=
=
=
1
(Note
1)
Total
1511
Total
1512
Bonds, debentures, promissory notes,
1
2
3
4
5
6
7
8
and other properties
Year of
Proceeds of
Adjusted
Outlays and
Gain
Eligible amount
Gain eligible for 0%
Gain subject to
(including ecologically sensitive land)
acquisition
disposition
cost base
expenses
(column 2 minus
of gift
inclusion rate
50% inclusion rate
(from disposition)
columns 3 and 4)
(column 5 × column 6
(column 5 minus
divided by column 2)
column 7)
Face value
Maturity date Name of issuer
+
+
+
+
+
+
Address or legal description of land
+
+
+
=
=
=
2
(Note
2)
Total
1521
Total
1522
3
Total gains eligible for 0% inclusion rate (total of lines 1512 and 1522 of column 7). Enter this amount on line 16 of Schedule 1.
Note 1: Include the amounts from line 1512 of column 7 and line 1 of column 8 in the total on line 3 of Schedule 1.
Note 2: Include the amounts from line 1522 of column 7 and line 2 of column 8 in the total on line 4 of Schedule 1.
See the privacy notice on your return.
T3 SCH 1A E (19)
(Ce formulaire est disponible en français.)
Clear Data
Protected B
when completed
T3 –
Capital Gains on Gifts of Certain Capital Property
Schedule 1A
Enter the applicable tax year in the box above.
Use this schedule to calculate the capital gains on gifts of capital property made to a qualified donee, if the property is any of the following:
• a share, debt obligation, or right listed on a designated stock exchange
• a share of the capital stock of a mutual fund corporation
• a unit of a mutual fund trust
• a prescribed debt obligation
• an interest in a related segregated fund trust
• ecologically sensitive land (such land includes a covenant or an easement; and for land in Quebec: a real servitude or a personal servitude under certain conditions)
If there is no advantage related to a gift, the full amount of the capital gain realized on the gift is eligible for an inclusion rate of zero. If there is an advantage, only part of the capital gain is eligible for the inclusion
rate of zero. The rest is subject to an inclusion rate of 50%.
An inclusion rate of zero may be applied to any capital gain realized on the exchange of a share of the capital stock of a corporation for a security listed in any of the first five bullets above that is later gifted.
Special tax treatment may also apply on a similar exchange of a partnership interest (other than a prescribed interest in a partnership). In all these cases, a special calculation is required to determine what the
capital gain will be. The capital gain should be reported on line 10 of Schedule 1, Dispositions of Capital Property.
If the trust donates property to a qualified donee, which is included in a flow-through share class of property, and the trust has an exemption threshold for the flow-through share class of property, the trust may be
deemed to have an additional capital gain from the disposition of another capital property. This additional capital gain would have a 50% inclusion rate.
For information on conditions that may apply to gifts of certain capital properties as described on this form, including the definitions of terms and special calculations for calculating capital gains where a gift involves
an exchange of shares of capital stock or partnership interests, see Pamphlet P113, Gifts and Income Tax.
Include this schedule with the trust's return. Attach all receipts to this schedule. If you need more space, attach a separate sheet of paper.
1
2
3
4
5
6
7
8
Mutual fund units and shares
Year of
Proceeds of
Adjusted
Outlays and
Gain
Eligible amount
Gain eligible for 0%
Gain subject to
acquisition
disposition
cost base
expenses
(column 2 minus
of gift
inclusion rate
50% inclusion rate
Name of fund or corporation
(from disposition)
columns 3 and 4)
(column 5 × column 6
(column 5 minus
Number
and class of shares
divided by column 2)
column 7)
+
+
+
+
+
+
+
+
+
=
=
=
1
(Note
1)
Total
1511
Total
1512
Bonds, debentures, promissory notes,
1
2
3
4
5
6
7
8
and other properties
Year of
Proceeds of
Adjusted
Outlays and
Gain
Eligible amount
Gain eligible for 0%
Gain subject to
(including ecologically sensitive land)
acquisition
disposition
cost base
expenses
(column 2 minus
of gift
inclusion rate
50% inclusion rate
(from disposition)
columns 3 and 4)
(column 5 × column 6
(column 5 minus
divided by column 2)
column 7)
Face value
Maturity date Name of issuer
+
+
+
+
+
+
Address or legal description of land
+
+
+
=
=
=
2
(Note
2)
Total
1521
Total
1522
3
Total gains eligible for 0% inclusion rate (total of lines 1512 and 1522 of column 7). Enter this amount on line 16 of Schedule 1.
Note 1: Include the amounts from line 1512 of column 7 and line 1 of column 8 in the total on line 3 of Schedule 1.
Note 2: Include the amounts from line 1522 of column 7 and line 2 of column 8 in the total on line 4 of Schedule 1.
See the privacy notice on your return.
T3 SCH 1A E (19)
(Ce formulaire est disponible en français.)