Estates And Trusts

Estate Returns

Planning for all situations is key to a business’s on-going success. Succession Planning should not be overlooked.

When a person passes away, the legal representative (executor) has to file a final income tax return. The estate demonstrates everything a person owns when they pass (i.e. property, debts, etc.).

An estate tax return is different from a family or other Trust return as the underlying result is a person leaving assets upon passing away. Once deceased, a testamentary trust is created and is afforded graduated tax rates, similar to personal managerial tax rates, for its first three (3) tax years and is often referred to as a “Graduated Rate Estate.”

In many cases, an Estate tax return may not be required as the Estate’s affairs are wrapped up with other “optional” returns. In circumstances where an “optional” estate will not suffice; the Estate’s tax year usually encompasses the period from the day after passing away until the anniversary of date of death. If the Estate is not wrapped up within its first tax year, it will continue to have the same tax year.

Let Numbers Plus® help you through a difficult time and ensure that the Estate, and Testamentary Trust, is properly positioned to minimize the tax and probate fees that may apply.


Important Dates

April 30

Personal tax payments are due. Tax return filing deadline is April 30th unless you or your spouse have business income then filing deadline is June 15th.

March 31

Trusts: Payment and filing deadline is March 31st (three months after the year end which is Dec 31st) unless a Graduated Rate Estate which is three months after the...

February 28

Tax Slips (T4, T4A, T5, …): Payment deadlines are as per usual (i.e.

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We are located on 168 Queen Street in Mississauga, ON in suite 209. The office is located in beautiful downtown Streetsville.

What are your hours of operation?

Our standard working day runs from 9am to 5pm. We can occasionally accommodate appointments outside of these hours.

Do you have parking?

Yes. We have parking in the back of the building with easy access to our office. If you require public transportation, the Mississauga Transit system stops in front of our office and the Streetsville Go Station is only a few blocks away.

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