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

Capital Gains: What you need to know

News

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…

James Rhodes Joins the RLR Partnership

News

We are delighted to announce that effective January 1, 2024, James Rhodes joined Ramsay Lampman Rhodes as a partner. With a focus on real estate and business law, James has consistently demonstrated outstanding dedication and expertise that has benefited our clients. Join us in congratulating James. We are confident that his contributions to the firm…

Zachary White Joins the Board of Directors for the Nanaimo Child Development Centre!

News

Congratulations to Zachary White on being appointed to the Board of Directors for the Nanaimo Child Development Centre. Zach grew up in Nanaimo and joined RLR in 2022. He is very excited for this opportunity and looks forward to working with the other members of the Board.  The Nanaimo Child Development Centre is a community-based,…

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