Schedule 3 Form

A Schedule 3 Form is used by the Canada Revenue Agency. It is a tax reporting and filing document. Also referred to as the Certain Fuel Mixtures and the Alternative Fuel Credit form, it is used to report information on vehicles that use alternative fuels, such as renewable diesel mixtures. This form helps Canadians know whether they are eligible to claim an alternative fuel credit on their taxes.

What is a Schedule 3?

A Schedule 3 form is used by the Canada Revenue Agency for tax reporting and filing purposes. It is known as a Capital Gains or Losses form. This form is a supplemental form that will be submitted with the general tax return for the year. The form is used to detail more specific information about capital gains and losses from the tax year.
This form will require detailed information about capital gains and losses. The filer will also need to detail what type of entity these gains or losses occurred in. This could be small business corporations, farm property, shares, mutual funds, or other entities. The amounts for each gain and loss will be total to come up with the net gain or loss for the year. This amount will be used to calculate the amount of taxes either owed to the Canada Revenue Agency or due to the taxpayer.

How to complete a Schedule 3 (Step by Step)

To complete a Schedule 3, you will need to provide the following information:

  • Year of acquisition, proceeds of disposition, adjusted cost base, outlays and expenses, and gain or loss for:
    • Qualified small business corporation shares
    • Qualified farm of fishing property
    • Publicly traded shares, mutual fund units, deferral of eligible small business corporation shares, and other shares
    • Real estate, depreciable property, and other properties
    • Bonds, debentures, promissory notes, and other properties
    • Other mortgage foreclosures and conditional sales repossessions
    • Personal use property
    • Listed personal property
  • Total gains or losses of qualified properties or other properties
  • Capital gains deferral from qualifying dispositions of eligible small business corporation shares
  • Farming and fishing income eligible for the capital gains deduction from the disposition of eligible capital property
  • T5, T5013, and T4PS information slips
  • T3 information slips
  • Capital loss from a reduction in your business investment loss
  • Total gains and losses before reserves
  • Reserves from line 6706 of Form T2017
  • Total capital gains or losses
  • Taxable capital gains or net capital loss
  • Principal residence designation

Sample Schedule 3

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Sample Schedule 3

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