Personal Services
Trust & Estate Tax
Careful preparation of trust and estate returns to protect your family's wealth and ensure a smooth, tax-efficient transfer to the next generation.
Protect what you've built.
Settling an estate or administering a trust involves a series of complex tax filings that most executors have never encountered before. Our team guides you through every step — from the final T1 return for the deceased to T3 trust returns and CRA clearance certificates — so the estate is settled correctly and your family's wealth is protected.
What's included
T3 Trust Income Tax Returns
We prepare annual T3 returns for testamentary trusts, inter vivos trusts, and graduated rate estates, ensuring all income is reported correctly and all available deductions are claimed.
Final T1 Return for the Deceased
We prepare the terminal T1 return for the year of death, along with any optional returns that can reduce the estate's overall tax burden.
Estate Administration & Tax Filings
We handle all CRA filings required during estate administration, including reporting deemed dispositions, capital gains on death, and RRSP/RRIF income.
CRA Clearance Certificates
Before distributing estate assets, executors need a clearance certificate from the CRA confirming all taxes have been paid. We prepare and submit the application on your behalf.
Executor Support & Guidance
Most executors are family members with no accounting background. We walk you through your obligations, deadlines, and decisions in plain language at every stage.
Real-world examples
Terminal T1 return
When a parent passes away, the executor must file a final T1 return reporting all income up to the date of death, including deemed dispositions of investments and real estate. We identify optional returns — such as the rights and things return — that can significantly reduce the tax owed.
Graduated rate estate
For the first 36 months after death, an estate qualifies as a graduated rate estate (GRE) and is taxed at graduated personal rates rather than the flat top rate. We structure distributions to take full advantage of this window.
RRSP on death
An RRSP is fully taxable in the year of death unless rolled over to a surviving spouse or a financially dependent child. We advise executors on the rollover rules and ensure the correct amounts are reported on the terminal return.
Clearance certificate delay
Distributing estate assets before receiving a clearance certificate exposes the executor to personal liability for any unpaid taxes. We submit the application promptly and follow up with the CRA to minimize delays.
Frequently asked questions
Navigating an estate? We can help.
Book a free consultation and we will walk you through the tax obligations and next steps for your situation.
Book a Free Consultation