New Canadian Trust Reporting Requirements
On January 26th, Jay Goodis and Kim G C Moody discussed the new Canadian trust reporting rules (75 minutes). A 2nd webinar was provided on January 31st answering over 60 submitted questions (60 minutes).
Changes concerning Canadian Trust reporting, first introduced in the 2018 Federal Budget and repeatedly delayed, are now law. Filings for 2023 will be the first subject to these new rules, the changes to which are extensive and pervasive. Jay and Kim discuss which types of trusts the new rules apply to, exceptions, required disclosures and penalties for non-compliance, practical application, and more! Registration includes access to a Q&A session where Jay and Kim answer 60+ questions submitted by attendees.
Which trusts the new rules apply to
Exemptions to reporting requirements
Bare trust impacts and analysis
Disclosure requirements
Understanding and preparing T3 Schedule 15
Penalties for non-compliance
Disclosure of other taxation issues
Practical application