New Bare Trust Reporting Rules for 2023 that Might Affect You
On March 28, 2024, the Canada Revenue Agency (CRA) determined that reporting requirements for bare trusts have had unintentional impacts on Canadians. As such, CRA will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the […]