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Optimize your trust returns process
Your trust clients count on you to provide the best options and to ensure they’re optimizing their tax position.
Developed in association with Canada’s major trust companies, Taxprep for Trusts simplifies the preparation of
trust returns and makes it easy for you to deliver the best results for your trust clients.
Step-by-step Assistant speeds up your process
Taxprep for Trusts comes with a unique valuable feature: an "Assistant" to help you prepare your trust tax returns!
The Assistant screen speeds up the preparation of T3/TP-646 tax returns by grouping data entries into eight successive steps,
each one providing direct access to applicable entry screens. Thanks to the Assistant feature, you’ll find it easy to file an
accurate T3 even if you’re not familiar with trust returns. Simply answer all the key questions and you’ll be good to go.
Multiple methods for beneficiary allocations
For maximum flexibility, choose from multiple methods of specifying beneficiary allocations. Income and capital gains can
be allocated separately. Trust income can be allocated according to a fixed amount or a percentage. You can satisfy the trust
requirements with minimal manual intervention.
Optimized tax position with automatic matching and calculations
To determine the net amount that can be allocated to beneficiaries, Taxprep for Trusts instantly matches trust income
and expenses based on the type of income earned. Taxprep for Trusts also automatically allocates income for the best
results (for example, allocating Canadian dividend income to Canadian resident beneficiaries and non-dividend income to
non-resident beneficiaries). These automatic calculations result in an optimized tax position for both the trust and its
beneficiaries.
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A light option for light users
If you prepare only a small number of trust returns, consider the most costeffective option on the market: Taxprep for Trusts
Lite. This essential version contains all Taxprep for Trusts features, but is limited to the preparation of only five
returns. Use of a Web-based print counter is required.
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Links to CCH Tax research
Integrate Taxprep for Trusts with CCH tax research products and get a direct link to CCH tax research resources
(sold separately). One click takes you to the information you need, without ever leaving the return you’re working on.
Taxprep for Trusts provides you with context-sensitive links to leading tax research publications such as Preparing
Your Trust Tax Returns, the Income Tax Act, and Interpretation Bulletins and Information Circulars (sold separately).
Filing made easy
Dealing with trusts means having to file a T3, possibly a Quebec TP-646, as well as summaries, and producing slips for
beneficiaries. Built-in features in Taxprep for Trusts help you navigate the complex T3 filing process so you
don’t overlook required forms and summaries.
Summary of beneficiary information
Quickly generate a form that lists all the beneficiaries identified by Taxprep for Trusts through the various
allocation methods. Changes to the beneficiaries can be made directly on the form.
Diagnostics
More than 280 diagnostics in Taxprep for Trusts ensure that you are alerted to potential errors.
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