Organizations & Sectors — Section 05

Trust Accounting
& Taxation

Family trust, testamentary trust or commercial trust — a distinct entity with its own tax obligations. ESSORS masters the T3 trust return, income allocation planning and the management of trust assets.

Types of Trusts

Your type of trust, our expertise

Family Trusts

Used to split income among family members, protect assets and plan the estate. 21-year rule, income allocation to beneficiaries and tax optimization.

Testamentary Trusts

Created by will to administer assets upon the settlor's death. Management of property for the benefit of heirs, estate liquidator and T3 return during the post-mortem period.

Asset Protection Trusts

Alter ego trusts, joint partner trusts and other protective structures. Pre-risk planning and compliance with anti-avoidance rules.

Commercial Trusts

Income trusts, investment funds and investment structures. Unit accounting, distributions to unitholders and preparation of T3 and RL-16 slips for beneficiaries.

Specialized Services

What we do for you

  1. T3 Return — Trust Income Tax Return

    Preparation and filing of the annual T3 and TP-646 (Revenu Québec) returns. Calculation of the trust's taxable income, allocation to beneficiaries and preparation of T3/RL-16 slips.

  2. Income Allocation Planning

    Income-splitting strategies among beneficiaries based on their marginal tax rates. Maximizing tax benefits while complying with attribution and anti-avoidance rules.

  3. 21-Year Rule Management

    Planning and management of the deemed disposition at the 21-year anniversary of the trust. Strategies to avoid or minimize capital gains tax accumulated within the trust.

  4. Trust Financial Statements

    Preparation of annual financial statements for the trust. Tracking of assets, income, distributions and changes in net value for the benefit of trustees and beneficiaries.

  5. Compliance with New Disclosure Requirements

    Since 2023, trusts have expanded disclosure obligations. We guide you through compliance with the CRA's new requirements concerning beneficiaries and trustees.

  6. Integration into Estate Planning

    Advice within the framework of comprehensive estate planning: use of the trust in combination with the will, estate freeze and other wealth transfer tools.

Your trust has specific needs. Let's discuss.

A no-obligation meeting to assess your situation and propose the right solutions.

Contact Us