T3 – Statement of Trust Income Allocations and Designations

About the T3 Slip

The T3 slip, Statement of Trust Income Allocations and Designations, reports income and credits allocated to you by a trust. Trust income may include dividends, capital gains, pension amounts, and other income types that must be reported on your Canadian tax return.

Reporting Key Amounts

Amounts on your T3 slip are reported on specific lines of your tax return:

• Dividends from Canadian corporations: Report amounts in boxes 32 and 50 on line 12000, and box 32 also on line 12010 of your return; claim the dividend tax credit using the total of boxes 39 and 51 on line 40425.
• Capital gains: Subtract box 30 from box 21 and include the result on line 17600 of Schedule 3. Foreign non‑business income portions may go on line 43300 of Form T2209.
• Other income: Subtract any amount in box 31 from box 26 and report the difference on line 13000.

Other Important Boxes

• Lump‑sum pension income (box 22): Report on line 13000.
• Foreign business and non‑business income (boxes 24 & 25): Include on line 13500 and 12100 respectively, and also on Form T2209 for foreign tax credits.
• Pension income qualifying amounts (box 31): Report on line 11500 and used in calculating other lines.
• Eligible death benefits (box 35): Reported in box 26 and may qualify for partial exclusion.
• Investment tax credit amounts (boxes 40, 41, 43): Use Form T2038(IND) to claim.
• Return of capital (box 42): Adjust your cost base; see the mutual funds tax treatment guide for details.

What to Do If You Didn’t Receive a Slip

If you were allocated income but didn’t receive a T3 slip (for example, if income allocated to you was less than $100), you still must report that income on your tax return. You should receive a notice or ensure records support your income reporting.