"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 this regard, CRA notes that:\n\nS. 150(1.31)(a) “provides an exception where all legal owners hold property both for their own use and benefit and for that of the other legal owners. For example, a joint bank account held by family members for the use and benefit of each of them” – and CRA goes on to provide a more detailed example of two spouses who hold a joint investment account, invested in GICs and TSX-listed stocks, for which they are both also the beneficial owners.\n\nS. 150(1.31)(b) “provides an exception for circumstances such as where a parent is on title [to a principal residence] to allow a child to obtain a mortgage” – and CRA goes on to provide a more detailed example of a couple acquiring the legal and beneficial ownership of a home but their mother/mother-in-law also being on title.\n\nS. 150(1.31)(c) “provides an exception for circumstances where spouses jointly occupy a family home, but only one spouse is on title” – and CRA goes on to provide a more detailed example to this effect.\n\nS. 150(1.31)(d) “provides an exception for circumstances where a partner holds property for the use or benefit of the partnership” – with no further CRA discussion, e.g., whether this exemption is available where the partners have relied on the published administrative guidance exempting them from filing T5013 returns, but without receiving a specific waiver.\n\nNeal Armstrong. Summaries of CRA Webpage, Enhanced reporting rules for trusts and bare trusts: Frequently asked questions, updated on 5 October 2026 include those under s. 150(1.2) and s. 150(1.31)(a), s. 150(1.31)(b), s. 150(1.31)(c) and s. 150(1.31)(d)."