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advisor discussing new CRA trust reporting rules

Understanding the CRA’s new trust reporting rules—including changes to bare trusts

The Canada Revenue Agency has introduced significant changes to trust reporting rules. The new rules apply to trusts with taxation years ending after December 30th, 2023. Specifically, all trusts—except where specific conditions are met—must now file an annual T3 return, along with additional beneficial ownership information (completed in Schedule 15 of the annual T3 return). […]

trust reporting rules delayed

Changes to federal trust reporting rules delayed again

In a recent blog, we detailed the government’s proposed new trust reporting rules that were due to come into effect in 2021, before being pushed back until later this year. Now, the implementation date of those new reporting requirements has been delayed yet again. To recap, in the 2018 federal budget, Ottawa outlined plans that […]