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Flag Canada Revenue
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Agence du revenu
du Canada
 
Capital Gains Refund to a Mutual Fund Trust
 
•  Use this form to claim a capital gains refund for a mutual fund trust for the 2021 tax year.
•  Attach a completed copy of this form to the completed Form T3RET, T3 Trust Income Tax and Information Return.
•  Contents
  Section 1 – Federal calculation
  Section 2 – Calculation for most provinces and territories
  Section 3 – Calculation for Ontario
  Section 4 – Calculation for Manitoba
  Section 5 – Calculation for Alberta
  Section 6 – Total capital gains refund for 2021
If the trust earned income in more than one province or territory:
  In Section 2, use a worksheet to make a separate calculation for each province or territory. The amount you enter on line 1 of Section 2 for each province
or territory is the amount from line 22 of Section 1, multiplied by the proportion of the trust's total income for the year, which was earned in that province or
territory. After you complete all the calculations, enter the total provincial and territorial refund on line 3. Attach your worksheet to this form.
  For Ontario, Manitoba, and Alberta, complete Section 3, 4, or 5, as applicable. Multiply the amounts of taxable income for the year, the taxed capital gains
for the year, and the capital gains redemptions by the proportion of the trust's income earned in the province for the year.
If you are a specified investment flow-through trust, go to canada.ca/cra-sift-trust.
 
T184 E (23) (Ce formulaire est disponible en français.) Page 1 of 5 Canada Logo

Protected B when completed
Section 1 – Federal calculation
 
Federal refundable capital gains tax on hand
 
Taxable income for the year
(line 43 of the T3 return)   x   33%   =    a
Taxed capital gains for the year
(paragraph 130(3)(b) of the Income
Tax Act)   84000   x   33%   =   •b
Federal tax payable for the year (line 33 of Schedule 11)    c
 
Refundable capital gains tax on hand at the end of the previous year (line 5 of previous year's Form T184)   84001   •1
 
Enter whichever amount is the least: line a, b, or c above.   84002   +  2
Subtotal (line 1 plus line 2)   =  3
 
Federal capital gains refund calculated for the previous tax year (line 22 of previous year's Form T184)   84004   •4
 
Refundable capital gains tax on hand (line 3 minus line 4)   84005   =  5
 
Federal capital gains redemptions
 
Amount from line 5 x   100 ÷ 16.5  =    6
Fair market value of all issued units   84007   •7
 
All debts owing   84008   + •8
 
Subtotal (line 7 plus line 8)   =  9
 
Cost amount of all property   84010   •10
 
Cash on hand   84011   + •11
Subtotal (line 10 plus line 11)   =  12
 
Subtotal (line 9 minus line 12; if negative, enter "0")   = +  13
 
Net total at the end of the year (line 6 plus line 13)   =  14
 
Amount paid in the year to redeem units included in the proceeds of disposition of the redemption   84015   •15
 
 
Capital gains redemptions
 
Amount from line 15 multiplied by amount from line 14    16
Amount from line 15 plus the amount from line 7    17
Subtotal (line 16 divided by line 17)   =  18
Amount designated to beneficiaries from units redeemed   84021   x   2  =   •19
Capital gains redemptions (line 18 minus line 19)   84045   =  20
 
Federal capital gains refund
 
Amount from line 20 x   16.5%  =    21
Federal capital gains refund for the year (amount from line 5 or line 21, whichever is less)   84050    22
 
Section 2 – Calculation for most provinces and territories
 
Provincial and territorial rates
 
     
    Newfoundland and Labrador 58.00% British Columbia 62.12%  
    Nova Scotia 57.50% Northwest Territories 42.58%  
    New Brunswick 57.00% Yukon 42.67%  
    Prince Edward Island 57.50% Nunavut 34.85%  
    Saskatchewan 43.94%  
     
 
Amount from line 22 of Section 1    1
 
Provincial or territorial rate   x                    2
 
Provincial or territorial capital gains refund (line 1 multiplied by line 2)   84051   =  3
 
Separate calculations are required for Ontario, Manitoba, and Alberta. See pages 3 and 4.
 
Page 2 of 5

Protected B when completed
 
Section 3 – Calculation for Ontario
 
Ontario refundable capital gains tax on hand
 
Note: Due to a legislative change that affects the calculation of refundable tax on hand at the end of 2008, all Ontario mutual fund trusts with a balance of
refundable tax on hand at the end of 2008 have to complete Form T184 for 2009. If the trust is affected by the legislative change but has not filed the
required form, complete Section 3 and Chart 1 of the 2009 version of Form T184 before you complete the 2010 and later versions of that form.
 
 
Taxable income for the year (line 43 of the T3 return) x   20.53% =    1a
Taxed capital gains for the year
(line 84000 of Section 1 on page 2) x   20.53% =    1b
 
Ontario tax payable for the year (line 24 minus line 29 of Form T3ON)    1c
 
Enter whichever amount is the least: line 1a, 1b, or 1c above   84100    1
 
Ontario refundable capital gains tax on hand for 2020
(line 5 of Section 3 of 2020 Form T184)   84102   •2a
 
 
2020 Ontario capital gains refund (line 7 of Section 3 of 2020 Form T184)   84103   •2b
 
Line 2a minus line 2b   =  2c
 
Additional refund of basic tax in 2020 (line 12 of Section 3 of 2020 Form T184)   84104   •3
 
Basic tax on hand at the end of 2020 (line 2c minus line 3)   = +  4
 
Ontario refundable capital gains tax on hand for 2021 (line 1 plus line 4)   84105   =  5
 
Ontario capital gains refund
 
Amount from line 20 of Section 1 x 10.265% =    6
Ontario capital gains refund of basic tax (amount from line 5 or line 6, whichever is less)   84107    7
 
  If the amounts on lines 5 and 22 of Section 1 are the same, the trust may be entitled to an additional capital gains refund. Complete lines 8 to 18 to
calculate the additional refund. If amounts are not the same, proceed to line 18.
 
Ontario additional refund of basic tax
 
Ontario refundable capital gains tax on hand from line 5    8
Ontario capital gains refund of basic tax from line 7    9
 
Additional refunds of basic tax before 2009 (line 10 of Section 3 of 2020 Form T184)   84116   + •10
 
Subtotal (line 9 plus line 10)   =  11
 
Ontario additional refund of basic tax (line 8 minus line 11; if negative, enter "0")   84117   =  12
 
Ontario additional refund of surtax
 
Amount from line 13 of Section 3 of 2020 Form T184   84120   •13
Ontario capital gains refunds of surtax for the years 1996 to 2015
Line 23 of Form T184 for years 1996 to 1999    A
 
Line 8 of Section 3 of Form T184 for years 2000 to 2008   +  B
 
Line 12 of Section 3 of Form T184 for years 2009 to 2015   +  C
 
Subtotal (add lines A, B, and C)   84122   = •14
 
Additional refunds of surtax for years 2000 to 2008 (total
of all amounts in column B of Chart 1, on page 5 of 2009
Form T184)    D
Additional refunds of surtax for years 2009 to 2015
(line 26 of Section 3 of Form T184 for years 2009 to 2015)   +  E
Additional refunds of surtax for years 2016 to 2020
(line 17 of Section 3 of Form T184 for years 2016 to 2020)   +  F
 
Subtotal (add lines D, E, and F)   84124   = + •15
 
Subtotal (add lines 14 and 15)   =  16
 
Ontario additional refund of surtax (line 13 minus line 16)   84126   =  17
 
Total Ontario capital gains refund
 
Total Ontario capital gains refund (add lines 7, 12, and 17)   84115    18
 
Page 3 of 5

Protected B when completed
 
Section 4 – Calculation for Manitoba
 
Manitoba refundable capital gains tax on hand
 
Taxable income for 2021 (line 43 of the T3 return)*  A
 
Taxed capital gains for 2021 (line 84000 of Section 1 on page 2)*  B
 
Enter the amount from line A or line B, whichever is less x   17.4%   =    1
 
Manitoba tax payable for 2021 (line 30 of Form T3MB)    2
 
Enter the amount from line 1 or line 2, whichever is less   84403    3
 
Total of refundable capital gains tax from previous years (line 5 of Section 4 of 2020 Form T184)   84404   + •4
 
Subtotal (line 3 plus line 4)   =  5
 
Capital gains refunds after 2000:
  Amount from line 8 of Section 4 of 2020 Form T184    6
 
  Amount from line 11 of Section 4 of 2020 Form T184   +  7
 
Total of Manitoba capital gains refunds after 2000 (line 6 plus line 7)   84408   = •8
 
Refundable capital gains tax on hand (line 5 minus line 8)   =  9
 
Manitoba capital gains refund
 
Federal capital gains redemptions (amount from line 20 of Section 1)* x  8.7%  =    10
Manitoba capital gains refund (amount from line 9 or line 10, whichever is less)   84307    11
 
* If the trust has earned income in more than one province or territory, and it has no taxable income for the year, multiply the amount
by the proportion of the amount that would be its Manitoba income for that year if its total income for the year were $1,000.
 
Section 5 – Calculation for Alberta
 
Alberta refundable capital gains tax on hand
 
Refundable capital gains tax on hand at the end of the previous tax year
(amount from line 8 of Section 5 of 2020 Form T184)   84204   + •1
 
Taxable income for the year (line 43 of the T3 return) x   15%  =    2
Taxed capital gains for the year
(line 84000 of Section 1 on page 2) x   15%   =    3
Alberta tax payable for the year (line 25 of Form T3AB)    4
Enter whichever amount is the least: line 2, 3, or 4   84205   +  5
Subtotal (line 1 plus line 5)   =  6
 
Provincial capital gains refund calculated for the previous tax year (amount from line 19 of Section 5 of 2020 Form T184)   84209   •7
 
Refundable capital gains tax on hand (line 6 minus line 7)   84210   =  8
 
Alberta capital gains redemptions
 
Amount from line 8 x   100 ÷ 7.5   =    9
Amount from line 13 of Section 1 on page 2   +  10
 
Net total at the end of the year (line 9 plus line 10)   84211   =  11
 
Capital gains redemptions
 
Amount from line 15 of Section 1 on page 2 x   line 11 =    12
 
Line 17 of Section 1 on page 2    13
 
Subtotal (line 12 divided by line 13)   =  14
 
Amount designated to beneficiaries from units redeemed (line 19 of Section 1 on page 2)   15
 
Subtotal (line 14 minus line 15)   =  16
 
Alberta rate   x              7.5%  17
Capital gains redemptions (line 16 multiplied by the rate on line 17)   84218   =  18
 
Alberta capital gains refund for the year (amount from line 8 or line 18, whichever is less)   84203    19
 
Page 4 of 5

Protected B when completed
 
Section 6 – Total capital gains refund for 2021
 
Federal capital gains refund (line 22 of Section 1)    1
 
Capital gains refunds for most provinces and territories (line 3 of Section 2)   +  2
 
Ontario capital gains refund (line 18 of Section 3)   +  3
 
Manitoba capital gains refund (line 11 of Section 4)   +  4
 
Alberta capital gains refund (line 19 of Section 5)   +  5
 
Total capital gains refund (add lines 1 to 5)   =  6
Enter the amount from line 6 on line 52 of the T3 return.
 
Attach a completed copy of this form to the T3 Trust Income Tax and Information Return.
 
See the privacy notice on your return.
 
Page 5 of 5