Here are the significant changes to the Info page for T3 returns for the 2021 module:
Indicate if the trustee is an Individual or Other than Individual (ie. a company)
- If the trustee is defined as Other than an individual then only the company name is required. It is not mandatory to enter the first and last name of the contact person, though the fields are still present for record-keeping purposes.
- These designations will also be used on T3M and T3RCA returns.
Foreign property valued over $100,000
- An answer is now required for this question in the T3 module.
- The T3 module has a T1135 form available, but trust T1135s must still be paper filed.
Pre- and/or post-assessment reviews question
- Indicator of who can be contacted for assessments. There is also an optional box for an expiry date.
- Selecting who to be contacted pre- and post-assessment is mandatory for electronic filing. Selections in these boxes get transmitted to CRA.
