Latest News
New Bare Trust Rules
The new reporting requirements will require trustees of a trust (including a trustee of a bare trust) to file a T3 Trust Income Tax and Information Return annually for tax years ending on or after December 31, 2023. If you don’t follow these rules, you could face penalties, including a […]
Employee Ownership Trusts (EOT)
There’s a worldwide trend to give employees a stake in the companies they work for. Some countries, like the UK and the US, have made special tax rules to make this easier. Canada is now joining in with similar rules proposed in their 2023 Budget, and expanded on it in […]
CRA Mandatory Reporting Rules
New rules are coming into force that make it mandatory for people and their financial advisors to report certain financial transactions to the CRA. These rules were originally proposed back in 2021 as part of the federal budget an were enacted as of June 22, 2023. The purpose of these […]
