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Protected B when completed 

British Columbia Tax

T3BC


2023
 
 
 
Complete this form for a trust resident in British Columbia or for a non-resident trust that carries on a business only through a permanent establishment in British
Columbia. Include a completed copy of this form with the trust's return.
 
Taxable income (line 43 of return)    1
 

Step 1 – British Columbia tax on taxable income

 
Graduated Rate Estates (GRE) or Qualified Disability Trusts (QDT)
 
Use the amount on line 1 to determine which one of the following columns you have to complete.
 



If the amount from line 1 is:
 
$45,654
or less
more than
$45,654,but not
more than
$91,310
more than
$91,310, but
not more than
$104,835
more than
$104,835, but
not more than
$127,299
more than
$127,299, but
not more than
$172,602
more than
$172,602, but
not more than
$240,716

Over
$240,716
 
Enter the amount from line 1    2
Base amount    3
Line 2 minus line 3   = = = = = = =  4
Rate   x              5.06% x              7.7% x             10.5% x            12.29% x             14.7% x             16.8% x             20.5%  5
Line 4 multiplied by line 5   = = = = = = =  6
Tax on base amount   + + + + + + +  7
British Columbia tax on
taxable income
   
(line 6 plus line 7)   = = = = = = =  8
 
Trusts other than GRE and QDT
 
British Columbia tax on taxable income: (amount from line 1) x    20.5% =    9
 

Step 2 – Donations and gifts tax credit

Total donations and gifts:
  Line 14 of Schedule 11A 14612  
Graduated Rate Estate (GRE) or Qualified Disability Trusts (QDT)
  On the first $200 or less   x    5.06% =    10
  Amount of donations in excess of $200 less the amount claimed on
  line 12 (amount of donations over $200 not eligible for the 20.5% rate)   x    16.8% =   +  11
  Enter whichever amount is smaller: 1) the amount of donations
claimed for the current year in excess of $200 or 2) your taxable
  income in excess of $240,716   x    20.5% =   +  12
Total (add lines 10 to 12)   =  13
Trust other than GRE and QDT
  On the first $200 or less   x    5.06% =    14
  On the remainder   x    20.5% =   +  15
Total (lines 14 plus line 15)   =  16
Donations and gifts tax credit
For trusts that are a GRE or a QDT enter the amount from line 13.
  For trusts other than GRE or QDT enter the amount from line 16. 14614 17
 

Step 3 – British Columbia tax

Enter the amount from line 8 or line 9 above. 14601 18
British Columbia recovery tax (line 42 of Form T3QDT-WS) 14604 + 19
Subtotal (line 18 plus line 19)   =  20
 
Donations and gifts tax credit (line 17)    21
Dividend tax credit
  Line 24 of Schedule 8 x 43.58% = 14618 + 22
  Line 31 of Schedule 8 x 15% = 14615 + 23
Minimum tax carryover
  Line 19 of Schedule 11 x 33.7% = 14616 + 24
Total credits (add lines 21 to 24)   =  ►  25
Subtotal (line 20 minus line 25. If negative, enter "0".)   =  26
 
Continue on the next page.
 
T3BC E (23) (Ce formulaire est disponible en français.) Page 1 of 2 Canada Logo

Protected B when completed 

Step 3 – British Columbia tax

(continued)
Amount from line 26 of the previous page    26
British Columbia additional tax for minimum tax purposes (amount I from Chart 3 of Schedule 12) 14602 + 27
Subtotal (line 26 plus line 27) 14605 =  28
 
British Columbia foreign tax credit (from Form T3 PFT, T3 Provincial or Territorial Foreign Tax Credit) 14610 29
 
Subtotal (line 28 minus line 29. If negative, enter "0".)   =  30
 
Logging tax credit (see instructions below ) 14690 31
 
Line 30 minus line 31   =  32
 
British Columbia qualifying environmental trust tax credit 14692 33
 
British Columbia tax (line 32 minus line 33. If negative, enter "0".) 14680 =  34
Enter the amount of line 34 on line 45 of the return.
 
 Line 31 – Logging tax credit
 
If the trust has logging operations in British Columbia on which British Columbia logging tax is payable for this tax year, it may be able to claim this credit.
On line 31 of this form, enter the provincial credit allowable from Form FIN 542S, Logging Tax Return of Income or FIN 542P, Logging Tax Return of Income
for Processors. Include a copy of Form FIN 542S or FIN 542P with the trust's return.

To get Form FIN 542S, go to
https://www2.gov.bc.ca/assets/gov/taxes/income-taxes/forms/fin-542s-logging-tax-return-of-income.pdf

To get Form FIN 542P, go to
https://www2.gov.bc.ca/assets/gov/taxes/income-taxes/forms/fin-542p-logging-tax-return-of-income-processors.pdf
 
 
 Mining exploration tax credit
 
On line 55 of the trust's return, enter the amount of credit from Form T88, British Columbia Mining Exploration Tax Credit (Individuals).
Include a copy of Form T88 with the trust's return.
 
 
If you have any questions...
If you have questions about British Columbia tax and credits, visit the Canada Revenue Agency (CRA) website at canada.ca/taxes, or call the CRA at
1-800-959-8281.
 
See the privacy notice on your return.
 
T3BC E (23) Page 2 of 2