LATEST ARTICLES
Canada
Rotfleisch & Samulovitch P.C.
Canadian income-tax law generally ignores a bare trustee, which means that the bare trustee need not report income generated by the trust property.
Fasken
On March 28, 2024, the Canada Revenue Agency ("CRA") released a statement exempting bare trusts from having to file a T3 Income Tax and Information Return...
Rotfleisch & Samulovitch P.C.
An alter ego trust is an inter-vivos trust, which means it's created during your lifetime, established after 1999.
Dale & Lessmann LLP
On March 28, 2024, the Canada Revenue Agency (CRA) has announced that bare trusts are exempt from having to file a T3 Income Tax and Information Return...
Torkin Manes LLP
Families today are increasingly mobile, often driven by a work-from-anywhere mindset. But when a couple that has ties to more than one country decides to separate, the question of which country's...
Aird & Berlis LLP
On March 28, 2024 (the last business day prior to the April 2nd trust reporting deadline), the Canada Revenue Agency ("CRA") announced that the CRA will not require bare trusts...
Gardiner Roberts LLP
In our previous blog post,[1] we discussed the Canada Revenue Agency's (the "CRA") expanded trust filing and reporting requirements...
WeirFoulds LLP
Bare trusts, unless specifically exempted, are required to file a 2023 T3 Return on or before April 2, 2024 with a completed T3 Schedule 15 to report beneficial ownership information.
Lerners LLP
The CRA has introduced new trust reporting requirements that apply to all express trusts (with a few exceptions) with taxation years ending after December 30, 2023.
Miller Thomson LLP
On March 12, 2024, the Canada Revenue Agency ("CRA") clarified its position on the application of late filing penalties to bare trusts.
Dale & Lessmann LLP
The Canada Revenue Agency (CRA) has implemented significant changes to trust reporting rules for taxation years ending after December 30, 2023.
Carters Professional Corporation
A new T3 Trust Income Tax and Information Return ("T3") was released by the Canada Revenue Agency (CRA) in December 2023.
Carters Professional Corporation
A new T3 Trust Income Tax and Information Return ("T3") was released by the Canada Revenue Agency (CRA) in December 2023. The updated T3 reflects the expanded...
Stewart McKelvey
New trust disclosure rules originally announced on February 27, 2018, are now in force, and trusts with taxation years ending on or after December 31, 2023...
Bishop & McKenzie
This income tax season will look different for Canadian trusts: the Government of Canada has implemented new filing requirements that are applicable to trusts.
Gardiner Roberts LLP
On December 15, 2022, Bill C-32, the Fall Economic Statement Implementation Act, 2022, S.C. 2022, c. 19 ("Bill C-32"), received Royal Assent.
MLT Aikins LLP
At its core, a trust is a legal arrangement wherein a person, known as the settlor, transfers assets to one or more trustees, who manage those assets in accordance with the terms outlined in the trust document ...
WeirFoulds LLP
Unless a specific exemption applies, a 2023 T3 Return is required to be filed for Canadian resident bare trusts on or before April 2, 2024, along with a completed...
O'Sullivan Estate Lawyers LLP
Trusts, and discretionary trusts in particular, are a staple of estate planning for their flexibility and adaptability. They can address a multitude of situations such as: managing assets...
Clark Wilson LLP
If you are contemplating separating from your partner or are in the midst of a divorce, you may be wondering what constitutes excluded property and what entitlement...
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