If tax owing > 3k in prev year and 3k in one of next 2 years
Indv: not primarily earning S&W, pay instalments on the 15
of each calendar quarter, the lesser of:
¼ of instalment base (taxes payable in preceding year) 
¼ of est tax payable for current year
First 2 instalments: (¼ of instalment base for second preceding year ) second 2 instalments: (½ of the eexcess for the
preceding year  - ½ of the instalment base of the second preceding year )
Interest is charged @ prescribed rates on late instalments from the day they are due to the final payment until tax is paid and
Corporations can overpay to offset interests:
Elg ccpc: Corp w/assoc corp in either current or prev year w TI < 500,000 and Taxcap < 10M, Claimed SBD in either current or
prev taxation year Has perfect compliance history, has quarterly instalments calculated as due @ the last day of each quarter
¼ × estimated tax payable for current year,¼ × tax payable of previous year, or (i) ¼ × tax payable for second
preceding year for the first instalment, and (ii) ⅓ × (tax payable of previous year less first instalment paid of current
year) for next three instalments.
Monthly instalments for other corporations: 1/12 × estimated tax liability for current year; 1/12 × instalment base for the
immediately preceding taxation year;
1/12 × instalment base for the second preceding year for the first two months, then
1/10 × (instalment base for immediately preceding taxation year less instalments paid in first two months).
Due three months after the end of your year (CCPC) or two months (normal)
Limited partners cannot deduct partnership losses
Add: charitable donations, taxable capital gains, loss carryovers
Personal tax credits: charitable donations tax credit, dividend tax credit, foreign tax credit
Partnership interest is capital property and you must track ACB
Partnership ACB: Additions: Capital contributions + income (partner's share) Other: PUC, life insurance proceeds
Deductions: Capital withdrawals; Income: Partner's share of losses, drawings, charitable donations, input tax credit
Negative ACBs happen, a general partner will not be taxed as a capital gain if there is no actual disposition of the partnership
interest, but it is taxable for limited partners and certain other passive partners
A partnership can be reorganized; its like a sec85 rollover, but the transferor must receive a "partnership interest" rather than
shares. Assets can also be transferred if there is a joint election made.To transfer property to a partnership (s97): partnership must
be a canadian partnership immediately after transfer, all partners must elect to apply the rollover.
A trust is a relationship where the trustee must deal with the trust property for the benefit of the beneficiaries any of whom may
enforce the obligation.
There must be a certainty of intention, subject matter, and of objects
transferring/acquiring all done @ FMV, unless spouse, done @ FMV
Inter vivos trust: December 3, 33%
Testamentary trust: December 31, 33%
Graduated rate estate Can have an off-calendar year for the first 36 months, after which they must adopt a calendar year
end, marginal tax rates of individuals
Must file tax returns within 90 days of the end of the fiscal period
Don't receive personal tax credits but get dividend and foreign tax credit
Every 21 years from a trusts beginning date, it is deemed to dispose all capital property @ FMV and must pay tax on resulting cap
gain and income.
The "rights or things" return is a separate return from the terminal return and must be filed by the later of one year
after death and 90 days after the assessment of the terminal return. Payment is due on the same date as the terminal
The executrix may elect to defer payment of taxes, related to rights or things and on deemed dispositions, in the form
ten annual instalments plus interest at prescribed rates.
AII: Net Taxable Capital Gains - Net Capital Losses deducted under Division c + Income from Property (can and foreign) - Dividends Deducted under Division C -
Losses from property (Can and foreign)