New Tax Rules for 2023: Bare Trusts Face Unexpected Reporting Requirements and Penalties
A recent article in the Comox Valley Record (Taxpayers beware: new trust reporting requirements include bare trusts) has highlighted the significant change in Canadian tax regulations for 2023, which requires almost all trusts, including “bare trusts,” to file a T3 Trust Income Tax Return, regardless of their activity or income levels. The article highlights the…
March 8, 2024
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…
February 28, 2024
RLR Lawyers welcomes Heather White to the Nanaimo office
RLR is delighted to welcome Heather White to our Nanaimo office. Heather is both a solicitor and a litigator. Her practice focuses on assisting clients primarily in real estate law and business law, including corporate and commercial law, with a particular interest in contracts. You can find Heather’s contact information and learn more about her…
July 20, 2022
Paul Ives, K.C. joins Ramsay Lampman Rhodes in Courtenay
RLR Lawyers is pleased to announce that Paul Ives, K.C. has joined the firm in our Courtenay office where he will continue to assist clients with corporate and commercial transactions, wills and estate planning, and real estate development. You can find Paul’s new contact information and learn more about the legal expertise he has to…
July 8, 2022