T3 SCH 10 E (04) (Front) T3 - (Year) ^ PART XII.2 TAX AND PART XIII NON-RESIDENT WITHHOLDING TAX SCHEDULE 10 - Enter the applicable taxation year above. Attach a completed copy of this schedule to the trust's return. - All references to "the guide" are to the T3 Trust Guide. Part A - Calculating Part XII.2 tax and the refundable Part XII.2 tax credit - Part XII.2 tax does not apply to testamentary trusts, mutual fund trusts, or most trusts exempt from tax under Part I. For a complete list of trusts to which Part XII.2 tax does not apply, and for more information on completing this schedule, see Chapter 3 in the guide. - Part XII.2 tax is calculated on income allocated by trusts to designated beneficiaries where the trust has specified income. - We define designated beneficiary and specified income in the guide, under "Schedule 10 - Part XII.2 Tax and Part XIII Non-Resident Withholding Tax." - Part XII.2 tax is due no later than 90 days after the trust's taxation year- end. Trustees are personally liable for any Part XII.2 tax not paid by the due date. - Eligible beneficiaries will receive a refundable tax credit for Part XII.2 tax that the trust paid. Specified income Line 1 and line 10010: Net business income (loss) from businesses carried on in Canada (lines 06 to 08 of the return) ^ Line 2 and line 10020: Net income (loss) from real properties (land and buildings) located in Canada (line 09 of the return) ^ Line 3 and line 10030: Net income (loss) from timber resource properties ^ Line 4 and line 10040: Net income (loss) from Canadian resource properties the trust acquired after 1971 ^ Line 5 and line 10050: Taxable capital gains and allowable capital losses from the disposition of certain properties ^ Line 6: Total specified income (add lines 1 to 5) = ^ Calculating Part XII.2 tax Amount allocated and designated to beneficiaries other than by preferred beneficiary elections Line 7: Resident beneficiaries (line 928, column 1 of Schedule 9) ^ Line 8: Non-resident beneficiaries (line 928, column 2 of Schedule 9) ^ Line 9: Subtotal (line 7 plus line 8) = ^ Line 10: Taxable benefits (line 44 of the return) ^ Line 11: Adjusted amount allocated and designated to beneficiaries (line 9 minus line 10) = ^ Line 12: Part XII.2 tax payable (Line 6 or line 11, whichever is less, multiplied by 36%) = ^ Enter the amount from line 12 on line 83 of the return. Calculating Part XII.2 refundable tax credit for eligible beneficiaries Line 13: Income allocated to designated beneficiaries divided by the amount from line 11 multiplied by the amount from line 12 = ^ Line 14: Part XII.2 refundable tax credit for eligible beneficiaries (line 12 minus line 13) = ^ Enter the amount from line 14 on line 938 of Schedule 9, Income Allocations and Designations to Beneficiaries. If there is only one eligible beneficiary, enter the amount from line 14 in box 38 of that beneficiary's T3 slip (Part XII.2 tax credit). If there is more than one eligible beneficiary, see Schedule 10, Line 14 of the guide for instructions on how to calculate the box 38 amount for each eligible beneficiary. Complete Part B on the other side if the trust is required to submit Part XIII non-resident withholding tax. T3 SCH 10 E (04) (Back) Part B - Calculating Part XIII non-resident withholding tax Payer's remittance number NR (enter 7 digits) ^ Line 15: Total income paid or payable to non-resident beneficiaries (line 928, column 2 of Schedule 9) ^ Line 16 and line 10210: Adjustment for non-cash items included above (provide reconciliation) (if negative, enter in brackets) ^ Line 17: Amounts paid or payable (line 15 plus line 16) = ^ Amounts not subject to Part XIII tax: Line 18 and line 10230: Total capital gains distributions of mutual fund trusts (see Note below) ^ Line 19 and line 10240: Distributions by certain trusts established before 1949 ^ Line 20 and line 10250: Other (specify) ^ Line 21: Amount from line 13 in Part A ^ Line 22: Subtotal (add lines 18 to 21) = ^ Line 22A: Taxable Canadian property gains distributions for non-resident beneficiaries (see Note below) ^ Line 23: Amount subject to non-resident tax (subtract lines 17 and 22, then add line 22A) = ^ Line 24: Non-resident tax payable (Multiply the amount on line 23 by the appropriate rate of tax. This amount has to be the same as the amount reported on the NR4 Summary and the related NR4 slip(s)) ^ Line 25: Amounts already remitted on Form NR-76, Non-Resident Tax Statement of Account ^ Line 26: Part XIII tax due (line 24 minus line 25) = ^ Remit the Part XIII tax with your Form NR-76, NR4 Summary, and NR4 slip(s). Note: Under proposed legislation, after March 22, 2004, if more than 5% of a mutual fund trust's capital gains distributions are designated to non-resident beneficiaries, the trust must do an additional calculation for line 18 and for line 22A. Enter the amount from line o on line 18 and the amount from line n on line 22A. To determine the trust's opening TCP gains balance at the beginning of the following year, complete lines p to s. Taxable Canadian property (TCP) gains balance for the mutual fund trust Line a: Trust's capital gains from dispositions of taxable Canadian property after March 22, 2004 ^ Line b: TCP gains distributions received by the trust after March 22, 2004 ^ Line c: Line a plus line b = ^ Line d: Trust's capital losses from taxable Canadian property after March 22, 2004 ^ Line e: Mutual fund trust's TCP gains balance for the year (line c minus line d). If negative, indicate the negative balance. = ^ Pro rata portion for non-resident beneficiaries Line f: Trust's TCP gains balance for the year (line e above). If negative, enter "0". ^ Line g: Taxable capital gains designated to non-resident beneficiaries for the taxation year ^ Line h: Total taxable capital gains designated by the trust to all beneficiaries for the taxation year ^ Line i: Line g divided by line h = ^ Line j: Non-resident beneficiaries' pro rata portion (line f multiplied by line i) = ^ Non-resident beneficiaries TCP gains distribution Line k: Amount from line g multiplied by 2 = ^ Line l: Non-resident beneficiaries TCP gains distribution. Enter the lesser of lines j and k. ^ Capital gains distributions not subject to Part XIII tax Line m: Amount from line g ^ Line n: Amount from line l multiplied by one-half = ^ Enter the amount from line n on line 22A above. Line o: Capital gains distributions not subject to Part XIII tax (line m minus line n) = ^ Enter the amount from line o on line 18 above. Mutual fund trust's TCP gains balance at the end of the taxation year Line p: Trust's TCP gains balance for the year (line e above). If negative, indicate the negative balance. ^ Line q: Amount from line h multiplied by 2 = ^ Line r: Total TCP gains distributions to all beneficiaries. Enter the lesser of lines p and q. If negative, enter "0". ^ Line s: Trust's TCP gains balance at the end of the taxation year (line p minus line r). If negative, indicate the negative balance. = ^ Use this balance when determining the trust's TCP gains balance at the beginning of next year.