Chapter

CRA expands its FAQ webpage on bare trust reporting

From Deyab v. Canada, 2020 FCA 222 by Sambif

Concepts

1. Trust Exceptions

   "CRA has updated its FAQ entitled \"Enhanced Reporting Rules for Trusts and Bare Trusts.\"\n\nThe updates include examples regarding the exceptions to deemed trust status set out in s. 150(1.31). In t

2. Filing Exemptions

   "CRA confirmed that its previous exemptions from the filing requirements for bare trusts which were not statutorily exempted from those filing requirements no longer apply for taxation years ending on

3. T3 Return

   "In response to a question about whether a reportable bare trust is required to include all the information requested in a T3 return when it is obligated to file that return, CRA stated:\n\nLook for t