Holiday Hours: Our offices will be closed for the holidays from December 26-30, 2022 and January 2, 2023.

Ramsay Lampman Rhodes’ Civil Litigation lawyers represent clients across a wide range of civil disputes, including corporate and commercial, construction, employment law matters, wills and estates, real estate, personal injury, municipal, Aboriginal and other matters before the courts. Our litigation strategies concentrate on understanding our clients’ objectives and on providing effective advocacy combined with cost-effective and pragmatic approaches to resolving the issues in our clients’ best interests.

Capital Gains: What you need to know

When it comes to owning land, property, or investments, one term that often surfaces is “capital gains.” Understanding the taxation of capital gains is important for anyone involved in the buying and selling of assets (such as real estate), investments, or for those owning and operating a business. In Canada, capital gains are a significant…

New Tax Rules for 2023: Bare Trusts Face Unexpected Reporting Requirements and Penalties – UPDATE

UPDATE: CRA exempts bare trusts from trust reporting requirements for 2023 tax year.

Read the CRA Announcement:  March 28, 2024: Bare trusts are exempt from trust reporting requirements for 2023

New Trust Reporting Requirements – Bare Trusts are Caught

Almost all trusts must now file a T3 Trust Income Tax Return, regardless of activity or income. The filing deadline is April 2, 2024, and a failure to file may result in penalties and unfavourable tax implications. Notably, “bare trusts” are caught by the new rules. Bare Trusts In fairly simple terms, a bare trust…

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