29 May 2018 STEP Roundtable Q. 3, 2018-0744081C6 - Trust return due date on wind up -- summary under Paragraph 249(1)(c)

In contrast with ss. 249(1)(b) and 249(5), which provide that the taxation year for a graduated rate estate is based on the period for which the accounts are normally made up so that, in CRA’s view, the final T3 return for a GRE is due within 90 days of the final distribution, for a non-GRE trust, s. 249(1)(c) defines the taxation year to be the calendar year (except as otherwise provided), so that the due date is 90 days thereafter. Thus, if a non-GRE trust is wound up in mid-February, it might seem that the return cannot be filed until the following year. However, in fact, the T3 assessing personnel will assess such a return that is filed after the final distribution date and before the calendar year end.