T3-Schedule 1 - fill out and auto calculate/complete form online

Protected B when completed

T3-2024

Dispositions of Capital Property

Schedule 1

•

Enter the tax year in the box above.

•

For information on completing this schedule, see Chapter 3 in Guide T4013, T3 Trust Guide.

•

If the trust is reporting a deemed disposition, first complete Form T1055, Summary of Deemed Dispositions (2002 and later tax years).

•

If you need more space, attach a separate sheet of paper. Include a completed copy of this schedule with the trust's return.

•

Complete Section 1 if the trust has dispositions of capital property in the year. Dispositions must be reported on the applicable lines in Part 1 or Part 2 based
on the period in which the disposition occurred, unless the trust is electing under any of the provisions noted in the question at 1710 below. Complete Section
2 if the trust is a graduated rate estate or a qualified disability trust and line 24A and amount 1656 at line 24 are both greater than zero.

Note: Do not use this schedule to claim an allowable business investment loss from disposing of shares or debts of a small business
corporation (see line 18 in Guide T4013, T3 Trust Guide).

Is the trust (other than a personal trust) electing under paragraph 104(21.4)(d), or subsection 104(21.5) or 138.1(3.2)?

1710

Yes

If yes, see Election for alternate method on page 48 in the Guide T4013, T3 Trust Guide

Section 1 – Taxable capital gains or allowable capital losses

Part 1 – Total capital gains (or losses)

Period 1 : Dispositions on or before June 24, 2024

Property type

1
Year
of
acquisition

2
Proceeds
of
disposition

3
Adjusted
cost
base

4
Outlays and
expenses
(from dispositions)

5
Gain (or loss)
(column 2 minus
columns 3 and 4)

Qualified small business corporation shares (QSBCS) (report publicly traded shares, mutual fund units, and other shares on line 3 below)

No. of shares

Name of corporation and class of shares

Total

1711

Gain (or loss)

1712

Qualified farm or fishing property (QFFP)

Address or legal description

Total

1721

Gain (or loss)

1722

Publicly traded shares, mutual fund units, and other shares (include the amounts from line 1542 of column 7 and line 1 of column 8 of
Part 1 of T3SCH1A) (report capital gains or losses shown on an information slip on line 13 of Part 3 below)

No. of shares

Name of corporation and class of shares

Total

1731

Gain (or loss)

1732

Bonds, debentures, promissory notes, crypto-assets, and other similar properties (include the amounts from line 1552 of column 7 and
line 2 of column 8 of Part 1 of T3SCH1A)

Face value

Maturity date

Name of issuer

Total

1741

Gain (or loss)

1742

Real estate, depreciable property and other properties (include the amounts from line 1562 of column 7 and line 3 of column 8 of Part 1 of
T3SCH1A) (see "Flipped property" on page 5)

Address or legal description

Total

1751

Gain (or loss)

1752

Personal-use property (see "Flipped property" on page 5)

1761

(if negative, enter "0")

1762

Listed personal property (LPP) (describe in full)

Note: You can only apply LPP losses against LPP gains.

1771

Gain (or loss)

1772

Enter the total of unused LPP losses from dispositions of LPP from Period 2, from line 8 of Form T1055, and unapplied

LPP losses from other years (provide details).

1780

–

Line 7 minus line 8.

Net LPP gain (Period 1) (if negative, enter "0")

Add lines 1 to 6, plus line 9.

Enter this amount on line 12 in Part 3, under Period 1.

Non-qualified investments for TFSA, FHSA, RRSP, RRIF, RDSP, and RESP trusts (describe in full), or Disposition of
interest in a partnership to a Tax Exempt Entity, Non-Residents, certain persons and partnerships (describe in full)
(see T3SCH1, line 11 in Guide T4013, T3 Trust Guide)

1791

Gain (or loss)

1792

T3 SCH 1 E (24)

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Protected B when completed

Schedule 1

Section 1 – Taxable capital gains or allowable capital losses (continued)

Part 2 – Total capital gains (or losses)

Period 2 : Dispositions on or after June 25, 2024

Property type

1
Year
of
acquisition

2
Proceeds
of
disposition

3
Adjusted
cost
base

4
Outlays and
expenses
(from dispositions)

5
Gain (or loss)
(column 2 minus
columns 3 and 4)

Qualified small business corporation shares (QSBCS) (report publicly traded shares, mutual fund units, and other shares on line 3 below)

No. of shares

Name of corporation and class of shares

Total

1011

Gain (or loss)

1012

Qualified farm or fishing property (QFFP)

Address or legal description

Total

1021

Gain (or loss)

1022

Publicly traded shares, mutual fund units, and other shares (include the amounts from line 1512 of column 7 and line 1 of column 8 Part
2 of T3SCH1A) (report capital gains or losses shown on an information slip on line 13 of Part 3 below)

No. of shares

Name of corporation and class of shares

Total

1031

Gain (or loss)

1032

Bonds, debentures, promissory notes, crypto-assets, and other similar properties (include the amounts from line 1522 of column 7 and
line 2 of column 8 Part 2 of T3SCH1A)

Face value

Maturity date

Name of issuer

Total

1041

Gain (or loss)

1042

Real estate, depreciable property and other properties (include the amounts from line 1532 of column 7 and line 3 of column 8 Part 2 of
T3SCH1A) (see "Flipped property" on page 5)

Address or legal description

Total

1051

Gain (or loss)

1052

Personal-use property (see "Flipped property" on page 5)

1061

(if negative, enter "0")

1062

Listed personal property (LPP) (describe in full)

Note: You can only apply LPP losses against LPP gains.

1071

Gain (or loss)

1072

Enter the total of unused LPP losses from dispositions of LPP from Period 1, from line 8 of Form T1055, and unapplied

LPP losses from other years (provide details).

1080

–

Line 7 minus line 8.

Net LPP gain (Period 2) (if negative, enter "0")

Add lines 1 to 6, plus line 9.

Enter this amount on line 12 in Part 3, under Period 2.

1091

Gain (or loss)

1092

T3 SCH 1 E (24)

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Protected B when completed

Schedule 1

Section1 – Taxable capital gains or allowable capital losses (continued)

Part 3 – Total capital gains (or losses)

Period 1

Period 2

Amount from line 10 of Part 1 and Part 2

T3 information slips – Capital gains (or losses) (see Note 1)

1700

1100

T5, T4PS, and T5013 information slips – Capital gains (or losses) (see Note 1)

1701

1101

Add lines 12 to 14.

Subtotal

Portion of capital losses that do not qualify as a business investment loss (see line 20, under Step

3 - Calculating net income, in the T3 Trust Guide)

1730

–

1130

–

Line 15 minus line 16

Subtotal

Reserves from line 4, column 3 of T3SCH2 (if negative, show it in brackets)

1770

1170

Line 17 plus line 18

Subtotal

Capital gains on gifts of certain capital property eligible for the 0% inclusion rate

(amount from line 4 of T3SCH1A; attach T3SCH1A)

–

Line 19 minus line 20

Subtotal

Capital gains from gifts of other capital property

(see T3SCH1, line 24 in Guide T4013,T3 Trust Guide)

1789

1191

Total capital losses transferred under subsection 164(6) (see guide)

(do not put this amount in brackets)

1746

1646

Line 21 plus line 23

Capital gains (or losses)

1756

1656

Total of amounts from boxes 1756 and 1656 from line 24

24A

Note 1 Where a trust’s tax year begins after June 24, 2024, and it receives a T3, T5 or T5013 slip which reports a Period 1 capital gain,
capital loss, or business investment loss amounts, report 3/4 of these amounts in the Period 2 column.

Part 4 – Trust's inclusion rate and taxable capital gains (allowable capital losses)

Where the taxation year of the trust ends before June 25, 2024, the inclusion rate is 1/2, go to line 40. Where the taxation year of the trust begins after June
24, 2024, the trust’s inclusion rate is 2/3, go to line 40. Where the taxation year of the trust includes June 25, 2024, to determine the inclusion rate applicable
for a period to capital gains and losses of the trust, the trust is required to calculate, with certain adjustments, its net capital gains or net capital losses for
each period.

Gains/losses for the capital gain inclusion rate

Enter the amounts from lines 1756 and 1656

Amount from line 11 of Part 1 and Part 2

Total of capital gains (losses) from deemed dispositions from lines 10A (Period 1) and

10B (Period 2) of Form T1055

Amounts from line 16 and line 20

Amount relating to debt forgiveness, determined under subsection 80(13), if element E equals 1

1760

1660

Add lines 25 to 29.

Subtotal

Gross business investment loss (line 252 or line 251 of your return)

–

Net capital gains or net capital losses for Period 1 and Period 2 for

Line 30 minus line 31

purposes of calculating the 2024 inclusion rate

1766

1666

Trust's inclusion rate and taxable capital gains (allowable capital losses)

Use amounts at lines 1766 and 1666 above to determine which calculation below to complete.
Complete lines 33 to 39 only if amounts at lines 32, boxes 1766 and 1666 are both net capital gains (positive) or are both net capital losses (negative).

Add lines 1766 and 1666.

Total adjusted net capital gains or losses

Amount from line 32, box 1766

(if negative, enter as a positive)

33A

x 50% =

Amount from line 32, box 1666

(if negative, enter as a positive)

34A

x 66.6667% =

Add lines 34 and 35.

Amount from line 33 (if negative, enter the amount as a positive value)

Line 36 divided by line 37, multiplied by 100

Trust's inclusion rate

►

Multiply line 24A by the inclusion rate at line 38.

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Protected B when completed

Section1 – Taxable capital gains or allowable capital losses (continued)

Complete line 40 only if one of the following situations applies:

• the tax year of the trust ends before June 25, 2024

• the net capital gains from line 32 in box 1766 are more than the net capital losses in box 1666

• the net capital losses from line 32 in box 1766 are more than the net capital gains in box 1666

• the net capital gains or net capital losses from line 32 in box 1666 is nil, and there are net capital
gains or net capital losses in box 1766.

Amount from line 24A

x 50% =

►

Complete line 41 only if one of the following situations applies:

• the tax year of the trust begins after June 24, 2024

• the net capital gains from line 32 in box 1766 are less than the net capital losses in box 1666

• the net capital losses from line 32 in box 1766 are less than the net capital gains in box 1666

• the net capital gains or net capital losses from line 32 in box 1766 is nil, and there are net capital gains or net capital losses in box 1666.

Amount from line 24A

x 66.6667% =

►

Trust's inclusion rate and the reciprocal of the inclusion rate

You may have to enter the trust’s inclusion rate, or the reciprocal of the inclusion rate on other Schedules. These amounts are determined
at line 42 and 43 below.

Trust's inclusion rate

If you completed lines 33 to 39, the inclusion rate is the amount from Line 36 divided by line 37 multiplied by 100. The inclusion rate
should be reflected as a percentage rounded to the 4th decimal place.

Amount from line 36

x 100 =

Amount from line 37

If you completed line 40, the trust’s inclusion rate is 1/2 or 50%. If you completed line 41, the trust’s inclusion rate is 2/3 or 66.6667%.

Enter the trust’s inclusion rate used at line 39, 40 or 41 (as applicable) as a percentage:

% 42

The reciprocal of the inclusion rate

The reciprocal of the inclusion rate is equal to 1 divided by the inclusion rate. This value should be rounded to the 4th decimal place:

1 / Inclusion rate from line 42

% =

Note 2: If the trust’s inclusion rate is 50%, the reciprocal of the inclusion rate is 2. If the trust’s inclusion rate is 66.6667%
the reciprocal of the inclusion rate is 1.5.

Non-qualified investments for TFSA, FHSA, RRSP, RRIF, RDSP, and RESP trusts, or disposition of interest in a partnership to a
tax exempt entity, non-residents, certain persons and partnerships

Add the amounts on line 11 from Part 1 and Part 2.

Add lines 39 to 44.

Total taxable capital gains (or net capital losses)

1220

Enter the amount from line 45 at line 01 of the T3 return.

If the amount on line 45 is positive and the trust is reporting an allowable capital loss from deemed dispositions on Form T1055, enter the amount on line 21 of
Form T1055. Otherwise, enter the amount on line 01 of the T3 return.

If the amount on line 45 is negative, and the trust is reporting a taxable capital gain from deemed dispositions on Form T1055, enter the amount on line 13 of
Form T1055. Otherwise, see "Line 1 – Taxable capital gains" in Guide T4013, T3 Trust Guide.

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Protected B when completed

Schedule 1

Section 2 – Capital gains reduction and add-back for a Graduated Rate Estate (GRE) or
Qualified Disability Trust (QDT)

Part 1 – Capital gains reduction

Complete Part 1 if the trust is a graduated rate estate or a qualified disability trust, and line 1 and/or line 10 of your T3 return
are gains and line 1656 in Section 1, Part 3 is a gain

Period 2 capital gains from line 24.

Period 2 deemed dispositions from line 27.

If the total of line 1756 plus the Period 1 amount on line 27 is a loss, enter the amount without brackets.

–

Line 1 plus line 2 minus line 3

Subtotal

Period 2 taxable capital gains designated to beneficiaries: enter the total of all amounts reported on line 921-1B on T3SCH9

Amount from line 5

x the reciprocal of the inclusion rate from line 43 in Section 1

Period 1 capital gains included at 3/4 under Period 2 from lines 13 or 14 of Section 1 which are not included in the line 5 amount

plus any adjustment to net LPP gains (see guide) (if negative, use brackets)

1370

Total Period 2 capital gains on the disposition or deemed disposition from a change in use or non-arm’s length

transfer occurring after June 24, 2024

1371

Add lines 6 to 8.

Total amounts elected relating to dispositions described on line 8, if any,under subsection 13(7.7)

1373

Period 2 net capital gains (line 4 minus line 9, plus line 10)

Enter the lesser of line 11 or $250,000

Capital gains reduction (amount from line 12)

x 1/6 =

Enter the value from line 13 on line 12 of the T3 return.

Part 2 – Capital gains reduction add-back

Complete Part 2 if the trust claimed a capital gains reduction (line 13 of Section 2, Part 1 is greater than “0”) and the trust has claimed
a net capital loss on line 36 on the T3 return.

The capital gain reduction (line 13 of Section 2, Part 1)

x 6 =

Amount from line 4 from Section 2, Part 1

Capital gains designated to beneficiaries (enter line 6 from Section 2, Part 1)

Net capital losses applied from other years to dispositions after June 24, 2024.

(line 36 of the T3 return) (see Note)

x the reciprocal of inclusion rate

Amount from line 7 of Section 2, Part 1

Add lines 3 to 5.

►

Line 2 minus line 6

►

Line 1 minus line 7

Subtotal

Capital gains reduction add-back (amount from line 8)

x 1/6 =

Enter line 9 at line 46 of the T3 return.

Note

• If 1756 is negative and 1656 is positive, enter the full amount from line 36 of the T3 return

• If 1756 is positive and 1656 is negative, enter "0"

• If 1756 and 1656 are both positive, enter line 36 of the T3 return multiplied by 1656 divided by the sum of 1756 and 1656

Flipped property

If a trust owned a housing unit (including a rental property) or a right to acquire a housing unit located in Canada for less than 365 consecutive days before the
disposition, the property is generally considered to be flipped property. The resulting gain on the disposition of a flipped property is taxable as business income
and not as a capital gain. The deeming rule does not apply to inventory, the disposition of which would already result in business income. Exceptions to the
flipped property rule may apply in certain situations where the disposition occurs due to, or in anticipation of, certain life events.

If the property is a flipped property, do not report the gain on this schedule, but rather report the income on Form T2125, Statement of Business or Professional
Activities. If the property is not a flipped property, and the trust has a capital gain or loss, use this schedule to report the disposition.

For more information about property flipping and the life event exceptions, go to canada.ca/cra-property-flipping or see Guide T4037, Capital Gains.

See the privacy notice on your return.

T3 SCH 1 E (24)

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