*** Transcriber's Note: Please set your voice synthesizer to read most punctuation. When you encounter the caret sign at the end of a line, please enter the applicable information, if necessary. *** Canada Revenue Agency T3 - 2011 SCHEDULE 11 FEDERAL INCOME TAX For information on completing this schedule, see Chapter 3 in Guide T4013, T3 Trust Guide. Include a completed copy of this schedule with the trust's return. Line1: Enter your taxable income from line 56 of the T3 return. ^ Step 1 - Tax on taxable income Testamentary trusts or grandfathered inter vivos trusts Use the amount from line 1 to determine which one of the following columns you have to complete. *** Transcriber's Note: Use column 1 if the amount from line 1 is $41,544 or less. Use column 2 if the amount from line 1 is more than $41,544, but not more than $83,088. Use column 3 if the amount from line 1 is more than $83,088, but not more than $128,800. Use column 4 if the amount from line 1 is more than $128,800 *** Column 1: $41,544 or less Line 2: Enter the amount from line 1 above ^ Line 3: Base amount 0.00 Line 4: Line 2 minus 0.00 = ^ Line 5: Tax rate 15% Line 6: Multiply line 4 by 15% = ^ Line 7: Tax on base amount 0.00 Line 8: Federal tax on taxable income (line 6 plus 0.00) = ^ Column 2: more than $41,544, but not more than $83,088 Line 2: Enter the amount from line 1 above ^ Line 3: Base amount 41,544.00 Line 4: Line 2 minus 41,544.00 = ^ Line 5: Tax rate 22% Line 6: Multiply line 4 by 22% = ^ Line 7: Tax on base amount 6,232.00 Line 8: Federal tax on taxable income (line 6 plus 6,232.00) = ^ Column 3: more than $83,088, but not more than $128,000 Line 2: Enter the amount from line 1 above ^ Line 3: Base amount 83,088.00 Line 4: Line 2 minus 83,088.00 = ^ Line 5: Tax rate 26% Line 6: Multiply line 4 by 26% = ^ Line 7: Tax on base amount 15,371.00 Line 8: Federal tax on taxable income (line 6 plus 15,371.00) = ^ Column 4: more than $128,000 Line 2: Enter the amount from line 1 above ^ Line 3: Base amount 128,800.00 Line 4: Line 2 minus 128,800.00 = ^ Line 5: Tax rate 29% Line 6: Multiply line 4 by 29% = ^ Line 7: Tax on base amount 27,256.00 Line 8: Federal tax on taxable income (line 6 plus 27,256.00) = ^ Line 9: Inter vivos trusts (other than grandfathered) Federal tax on taxable income Line 1 ^ multiplied by 29% = ^ Step 2 - Donations and gifts tax credit Line A and line 11126: Donations made to registered charities, registered Canadian amateur athletic associations, and government gifts ^ Line B and line 11127: Donations made to prescribed universities outside of Canada ^ Line C and line 11128: Gifts to the United Nations and its agencies, and certain charitable organizations, outside of Canada ^ Line 10 and line 11121: Total of lines A, B and C = ^ Line 11 and line 11123: 25% of taxable capital gains from gifts of capital property (see Schedule 11, line 27 in the T3 Trust Guide) ^ Line 12 and line 11124: 25% of recapture of capital cost allowance on donated depreciable property ^ Line 13: 75% of net income (line 50 of the T3 return ^ Multiplied by three quarters) = ^ Line 14: Total charitable donations limit (add lines 11 to 13) = ^ Line 15: Line 10 or line 14, whichever is less ^ Line 16 and line 11122: Eligible amount of any cultural, ecological, or government gifts made after 2005 and agreed to in writing before February 19, 1997, which has not been claimed in any previous year ^ Line 17: Total donations and gifts (line 15 plus line 16) = ^ Line 17A and line 11125: Donations claimed in 2011 ^ Line 18: On the first $200 or less ^ Multiplied by 15% = ^ Line 19: On the remainder ^ Multiplied by 29% = ^ Line 20 and line 11120: Donations and gifts tax credit (line 18 plus line 19) = ^ Continue at Step 3 on the other side. T3 SCH 11 E (11) (Back) Step 3 - Federal tax Line 21 and line 11080: Federal tax on taxable income (line 8 or line 9) ^ Line 22 and line 11090: Tax adjustments - Lump-sum payments under ITAR 40 (see Schedule 11, line 22 in the T3 Trust Guide ) ^ Line 23: Adjusted federal tax (line 21 plus line 22) = ^ Federal dividend tax credit Line 24 and line 11108: Dividend tax credit for eligible dividends (line 24 of Schedule 8 ^ Multiplied by 56.5217%) = ^ Line 25 and line 11109: Dividend tax credit for dividends other than eligible dividends (line 31 of Schedule 8 ^ Multiplied by 66.6667%) = ^ Line 26 and line 11110: Total federal dividend tax credit (line 24 plus line 25) = ^ Line 27: Donations and gifts tax credit (from line 20 but not more than line 23 minus line 26) ^ Line 28: Total credits (line 26 plus line 27) = ^ Line 29: Subtotal (line 23 minus line 28; if negative, enter "0") = ^ Line 30 and line 11130: Minimum tax carryover from previous years (line 72 of Schedule 12) ^ Line 31 and line 11150: Basic federal tax (line 29 minus line 30; if negative, enter "0") = ^ Line 32 and line 11160: Surtax on income not subject to provincial or territorial tax (part of line 31 not subject to these taxes ^ Multiplied by 48%) = ^ Line 33: Subtotal (line 31 plus line 32) = ^ Line 34 and line 11180: Federal foreign tax credit (available to resident trusts only; attach Form T2209, Federal Foreign Tax Credits) ^ Line 35 and line 11191: Total federal political contributions ^ Line 36 and line 11190: Allowable federal political contribution tax credit (from the calculation for Schedule 11, line 36 in the T3 Trust Guide) ^ Line 37 and line 11200: Investment tax credit (from Form T2038(IND), Investment Tax Credit (Individuals)) ^ Line 38 and line 11210: Federal logging tax credit for British Columbia ^ Line 39 and line 11213: Federal environmental trust tax credit ^ Line 40 and line 11214: Federal logging tax credit for Quebec ^ Line 41: Total credits (add lines 34, and 36 to 40) = ^ Line 42: Subtotal (line 33 minus line 41; if negative, enter "0") = ^ Line 43: Additional tax on registered education savings plan accumulated income payments (attach Form T1172) ^ Line 44: Federal tax payable (line 42 plus line 43) = ^ If minimum tax applies to the trust, continue the calculations on Schedule 12. If not, enter the amount from line 44 on line 81 of the return. Line 45: Refundable Quebec abatement (see Schedule 11, line 45 in the T3 Trust Guide) (line 31 ^ Multiplied by 16.5%) = ^ Enter this amount on line 87 of the return. Privacy Act, Personal Information Bank number CRA PPU 015