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Protected B when completed 

Ontario Tax

T3ON


2023 
 
 
Complete this form for a trust resident in Ontario or for a non-resident trust that carries on a business through a permanent establishment in Ontario.
Include a completed copy of this form with the trust's return.
 
Taxable income (line 43 of the return)    1
 

Step 1 – Ontario tax on taxable income
 
Graduated Rate Estates (GRE) or Qualified Disability Trusts (QDT)
 
Use the amount on line 1 to determine which one of the following columns you have to complete.
 


If the amount from line 1 is:		  

$49,231 or less		 more than $49,231,
but not more than
$98,463		 more than $98,463,
but not more than
$150,000		 more than $150,000,
but not more than
$220,000
more
than $220,000		  
Enter the amount from line 1.    2
Base amount   – – – – –  3
Line 2 minus line 3   = = = = =  4
Rate   x                 5.05% x                9.15% x               11.16% x               12.16% x               13.16%  5
Line 4 multiplied by line 5   = = = = =  6
Tax on base amount   + + + + +  7
Ontario tax on taxable income    
(line 6 plus line 7)   = = = = =  8
 
Trusts other than GRE and QDT
   
Ontario tax on taxable income: (amount from line 1) x  20.53% =    9
 

Step 2 – Donations and gifts tax credit
Total donations and gifts
  Line 14 of Schedule 11A 13412  
  On the first $200 or less (line 16 of Schedule 11A)   x  5.05% =    10
  On the remainder (applies to GRE and QDT only – line 17 of Schedule 11A)   x  11.16% =   +  11
  On the remainder (applies to all other trusts – line 17 of Schedule 11A)   x  17.41% =   +  12
  Donations and gifts tax credit (add lines 10 to 12) 13414 = •13
 

Step 3 – Ontario Tax
Enter the amount from line 8 or line 9 above. 13401 •14
Ontario recovery tax (line 42 of Form T3QDT-WS) 13404 + •15
Subtotal (line 14 plus line 15)   =  16
Donations and gifts tax credit (line 13)   –  17
Subtotal (line 16 minus line 17. If negative, enter "0".)   =  18
Ontario minimum tax carryover:
Enter the amount from line 18.    19
Enter the amount from line 37 of Chart 1 on page 2.   –  20
Subtotal (line 19 minus line 20. If negative, enter "0".)   =  21
 
  Enter the amount from line 19 of Schedule 11. x 33.67% = 13419  22
Enter the amount from line: 21 or 22 whichever is less. 13416 – •23
Subtotal (line 18 minus line 23. If negative, enter "0".) 13405 =  24
Ontario surtax:
Applies to GRE and QDT only, otherwise enter "0" on line 27.
(Line 24  minus $5,315) x 20% (if negative, enter "0") =    25
(Line 24  minus $6,802) x 36% (if negative, enter "0") =   +  26
Total surtax (line 25 plus line 26) 13410 = ► + •27
Subtotal Add line 24 plus line 27   =  28
Ontario dividend tax credit:
  Enter the amount from line 37 of Chart 1.   –  29
Subtotal (line 28 minus line 29. If negative, enter "0".)   =  30
 
Continue on the next page.
   
T3ON E (23) (Ce formulaire est disponible en français.) Page 1 of 2 Canada Logo
Protected B when completed 

Step 3 – Ontario Tax

(continued)
Enter the amount from line 30 on the previous page.    30
 
Ontario additional tax for minimum tax purposes:
If you entered an amount other than "0" on line 48 of T3 Schedule 12, enter your Ontario additional tax for minimum tax
purposes from line 48 of Chart 2. 13402 + •31
Subtotal (line 30 plus line 31.)   =  32
 
Ontario foreign tax credit (from Form T3 PFT, T3 Provincial or Territorial Foreign Tax Credit) 13430 – •33
Ontario tax (line 32 minus line 33. If negative, enter "0".) 13460 =  34
Enter the amount from line 34 on line 45 of the return.
 
 
Chart 1 – Ontario dividend tax credit calculation
  
 
  Line 24 of Schedule 8 x 36.3158% = 13418 •35
  Line 31 of Schedule 8 x 22.895% = 13415 + •36
  Total credits (add line 35 and line 36)   =  37
  Enter the amount from line 37 on line 20 and line 29.
 
 
 
Chart 2 – Ontario additional tax for minimum tax purposes
  
 
  If you entered an amount greater than "0" on line 48 of T3 Schedule 12, complete this calculation.
 
  Ontario basic additional tax
  Line 48 of T3 Schedule 12 x 33.67% =    38
 
  Ontario surtax on additional tax
  Surtax on additional tax (applies to trusts other than GRE and QDT)
  Amount from line 38 x 56% =    39
  Surtax on additional tax
(lines 40 to 46 apply only to GRE or QDT. Other trusts should leave those lines blank, enter “0” on line 47, and continue at line 48.)
 
  Amount from line 38    40
  Enter amount from line 24.   +  41
  Add lines 40 and 41.   =  42
 
  Complete lines 43 to 47 only if the amount on line 42 is more than $5,315. Otherwise, enter the amount from line 38 on line 48.
 
  (Line 42  minus $5,315) x 20% (if negative, enter "0") =    43
  (Line 42  minus $6,802) x 36% (if negative, enter "0") =   +  44
  Add lines 43 and 44.   =  45
  Amount from line 27   –  46
  Line 45 minus line 46   =  47
 
  Add lines 38, 39, and 47.    48
  Enter the amount from line 48 on line 31.
 
 
If you have any questions...
If you have other questions, visit the Canada Revenue Agency (CRA) website at canada.ca/taxes, or call the CRA at 1-800-959-8281.
 
See the privacy notice on your return.
 
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