Loss Carryback of Trust for Minimum Tax Purposes


If a trust want to claim a loss carryback for minimum tax purposes, what forms does it need to file to claim the carryback?

For example, let’s assume that the trust had taxable capital gains in 2022 such that it was subject to minimum tax. Then in 2023, it had a bunch of allowable capital loss. It wants to carryback the 2023 capital loss to offset the minimum tax gains in 2022.

My current analysis is that the trust needs to file a T3A form along with its T3 form by the tax deadline in 2024. My assumption is that once T3A is filed, the CRA will automatically reassess the minimum tax for 2022 taxation year. I’m not sure if this is right.