Tax Returns for Deceased Taxpayers

Comprehensive tax course and practical guidance on preparing final tax returns and estate returns - Regular Price $349



You probably have heard the old adage … death and taxes. Well, unfortunately when it comes to the death of a Canadian resident taxpayer, truer words couldn’t be spoken.

The death of an individual in Canada gives rise to numerous tax consequences and special filing requirements for not only the deceased, but for their estate as well. Executors are often overwhelmed and confused by the legal and tax landscape they are forced to navigate , especially when they have little or no experience in these matters … which is normally the case.

If you are a tax advisor or planning to become one and have taken the Introductory Tax Course and the Best Practices Tax Course here at the Canadian Tax Academy (or similar industry/tax experience), then this course will provide you with valuable knowledge in your studies and education.

As a tax preparer and advisor, it will only be a matter of time before you are faced with preparing the final tax return for a client. That being the case, you need to be familiar with the technical aspects, rules and deadlines for filing tax returns for the deceased. In addition, you will also be called upon to prepare the necessary tax returns and filings for the estate. This course covers it all.

Once this course is completed, students will be able to:

  • Understand the tax implications of the death of an individual and be able to confidently prepare the Terminal T1 tax return and T3 returns for the estate of the deceased
  • Consult with clients, executors and other legal representatives on the responsibilities and tax process for the deceased and their estate
  • Identify possible tax saving solutions and strategies that can be implemented to save the estate and beneficiaries substantial amounts of tax

This is a comprehensive tax course that not only deals with the technical aspects of the returns, but also goes extensively into the practical side of things and dealing with executors within the overall process sand framework. If you are a student of the Canadian Tax Academy, you are familiar with my real-world, practical advice to teaching Canadian Tax. That means that this course contains a wealth of topics and information that you will not find in any other deceased taxpayer course.

The course is divided into 7 modules. Here are a few of the areas covered in the course:

  • Taking the 25,000 ft. view to understand the process as a whole as well as the responsibilities for executors, advisors and tax preparers
  • Putting together a step-by-step process so that you know how to prepare the returns as well as the special filing deadlines rules for the deceased and their estates
  • Properly claiming all the deductions and tax credits available on the deceased’s final tax return (the Terminal T1) and other optional tax returns that are available in the year of death
  • Knowing what has to be included in income and trying to minimize the tax implications to better serve your client and the estate beneficiaries
  • Dealing with the Canada Revenue Agency (CRA) on tax matters including the process of getting a Clearance Certificate for the executor

This course also deals with the preparation and filing of the T3 Trust & Information Return for testamentary trusts and Graduated Rate Estates that may be necessary for the estate. I take you through the necessary forms and show you examples on how to fill out the form quickly and accurately. We also look at best practices for estate bookkeeping that will save you and the executor lots of headaches and sleepless nights trying to come up with the information necessary for the tax returns.

Preparing tax returns for deceased taxpayers can also be a very lucrative area of practice. I’ll also explain how you can grow your business with quality referrals by focusing or specializing in this specialized area of tax.

As with all the courses here at Canadian Tax Academy, it is evergreen in that the concepts you learn apply to all current and future tax years. I teach you the overall concepts that are applicable to ALL tax years and not just the current year's tax return.

Frequently Asked Questions

When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
Your access depends on whether you purchase this course outright, or whether you are a member of one of your All Access plans. If you directly purchase this course, you have unlimited access to it for the lifetime of the course, including all future updates - across any and all devices you own – at no additional cost. If you are a member of one of our Annual Membership Plans, then you will have access to the most current and up-to-date version of this course for the duration of your membership.
What if I am unhappy with the course?
We would never want you to be unhappy! If you are unsatisfied with your purchase, contact us in the first 14 days and we will give you a full refund. No questions asked. However, if a certificate of completion is requested and granted, refunds will not be issued even if it is within the 14 day period. (i.e. you cannot complete the course, be granted professional CPD hours and then request a refund).
What kind of tax knowledge do I need to have before taking this course?
You should be familiar with and be comfortable with preparing general tax returns. You should know the income, deduction and tax credit rules as these will also apply to deceased taxpayers. I recommend you enroll in the Canadian Tax Academy Introductory and Intermediate tax courses as a strong foundation.
Does this course cover T3 Returns and how to prepare them?
Yes, there is an entire module on how to prepare T3 returns and deal with trust and estate matters. We also cover all the new rules that came into effect in 2015/16. You can also "look over my shoulder" as I prepare a T3 return using tax software.
How often is the course updated?
I strive to keep the content on all my courses as up-to-date as I possibly can. Once you enroll in the course, you will have access to all the tutorials along with any of the updates I make. When there are important updates, I will email students to inform them of the changes
Are questions answered in this course?
Unfortunately, no. As this is an intermediate tax course, I cannot answer any questions for this course.
Are there any tests, quizzes or exams?
No. This is not a certification course. It is for your own self-development and will be a valuable asset in your tax aresenal not only now, but in the future as well. There are no tests or exams to pass.
Is this course eligible for PD credits? Do you issue certificates?
Yes, a certificate of completion can be requested once you complete the course. Once we verify that you have actually watched the tutorial videos in our system, we will issue the certificate via email for your records.

Your Instructor

Ian DiNovo, CPA, CGA
Ian DiNovo, CPA, CGA

Ian DINovo is a professional accountant and Director of the Canadian Tax Academy. He has been practicing accounting and offering independent financial and business advice for over 20 years.

He is the creator of a number of courses dealing with business, tax and investment matters that are designed to make difficult topics easy to understand for everyone.

Course Curriculum

  Module 6 - Estate Tax Returns - The T3 Trust & Information Return
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