New option for simple trust tax filing

For 2017 and later tax years, CRA will offer online filing to trust administrators and their representatives.

In a notice, CRA says these admins and representatives “will be able to file a simple T3 Trust Income Tax and Information Return (T3RET) online […],” noting that a “simple or ‘NIL’ return means that a trust’s taxable income, total taxes payable, and refund or balance owing are $0.00.”

For more tax tips, read:

The benefits of family trusts

Everything you need to know about Graduated Rate Estates

When to hire a professional executor

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The staff of Advisor.ca have been covering news for financial advisors since 1998.