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  • Article

    Finance Proposes Complicated Amendments To Trust Reporting Requirements

    As reported in earlier 2024 and 2023 editions of our Charity & NFP Law Update, trust reporting requirements under the Income Tax Act ("ITA") have been significantly expanded pursuant to detailed and complicated amendments introduced through Bill C-32.
    CanadaCorporate/Commercial Law
    Carters Professional Corporation
    Carters Professional Corporation
  • Article

    Guide: Identifying Ultimate Beneficiaries

    Bill 78, An Act mainly to improve the transparency of enterprises (hereinafter, the "Transparency Act"), came into force on March 31, 2023, and results in significant changes...
    CanadaCorporate/Commercial Law
    Fasken
    Fasken
Article

New Trust Reporting Rules In Effect In 2021

New reporting and disclosure rules will come into effect in 2021 for certain trusts. For trusts in existence as of January 1st 2021, trustees must report specific information including names...
CanadaCorporate/Commercial Law
Siskinds LLP
Siskinds LLP
  • Article

    The Cutting Unnecessary Red Tape Act, 2017 – The Charities Accounting Act

    On September 14, 2017, Bill 154, The Cutting Unnecessary Red Tape Act, 2017 passed first reading.
    CanadaCorporate/Commercial Law
    Borden Ladner Gervais LLP
    Borden Ladner Gervais LLP
  • Article

    New Trustees Act For New Brunswick

    In her recent article, New Trustees Act for New Brunswick, Sarah explains why the new Act is a welcome development to estate and trusts practitioners in New Brunswick.
    CanadaFamily and Matrimonial
    McInnes Cooper
    McInnes Cooper
  • Article

    IIROC Extends Deadline To Comply With Personal Financial Dealings Rule

    On November 17, 2015, the Investment Industry Regulatory Organization of Canada (IIROC) announced that it was extending the deadline for unwinding existing trustee, executorship and power of attorney arrangements...
    CanadaFinance and Banking
    Stikeman Elliott LLP
    Stikeman Elliott LLP
  • Article

    Changes To Principal Residence Rules

    On October 3, 2016, the Minister of Finance tabled a Notice of Ways and Means Motion to amend the principal residence exemption rules in the Income Tax Act (Canada).
    CanadaTax
    Norton Rose Fulbright Canada LLP
    Norton Rose Fulbright Canada LLP
  • Article

    CRA Exempts Bare Trusts From Reporting Requirements For 2023

    On March 28, 2024, the Canada Revenue Agency (CRA) has announced that bare trusts are exempt from having to file a T3 Income Tax and Information Return...
    CanadaTax
    Dale & Lessmann LLP
    Dale & Lessmann LLP
  • Article

    Ontario Issues Comfort Letter To Address Effects Of Provincial Surtax On Mutual Fund Trusts

    Ontario’s Ministry of Finance addressed the unintended effects of the new provincial surtax which has caused a mismatch of a mutual fund trust’s capital gains refund and the Ontario surtax payable on capital gains.
    CanadaTax
    Stikeman Elliott LLP
    Stikeman Elliott LLP
  • Article

    EU Takes Another Step Toward Public Registries Of Beneficial Owners Of Companies And Trusts

    The European Parliament approved a recommendation that legislation be enacted requiring public beneficial ownership registers for companies and trusts.
    European UnionCorporate/Commercial Law
    Stikeman Elliott LLP
    Stikeman Elliott LLP
  • Article

    Changes To The Principal Residence Exemption Rules For Trusts

    The well-known principal residence exemption rules permit a taxpayer to shelter the sale of property that is an individual's residence.
    CanadaFamily and Matrimonial
    Dale & Lessmann LLP
    Dale & Lessmann LLP
  • Article

    Cottrell v. Cottrell: Separation/Divorce And Discretionary Trusts

    Can a discretionary trust benefit your children and shield the assets that you want to leave to them from being divided between your child and their spouse in the event of a relationship breakdown...
    CanadaFamily and Matrimonial
    Alexander Holburn Beaudin + Lang LLP
    Alexander Holburn Beaudin + Lang LLP
  • Article

    Qualified Disability Trusts

    Parliament recently enacted significant changes to the taxation of estates and trusts and charitable giving on death beginning in 2016.
    CanadaFamily and Matrimonial
    Norton Rose Fulbright Canada LLP
    Norton Rose Fulbright Canada LLP
  • Article

    Bare Trusts Must Report Beneficial Ownership Information Annually Under New T3 Rules

    Changes to the Income Tax Act in 2023 will require bare trusts to report annual beneficial ownership information.
    CanadaCorporate/Commercial Law
    Dentons Canada LLP
    Dentons Canada LLP
  • Article

    Financial Institutions Must Ensure They Receive Valid Instructions From Estate Executors

    When an estate has multiple executors, unless the will says otherwise, all of them must make decisions together.
    CanadaCorporate/Commercial Law
    Borden Ladner Gervais LLP
    Borden Ladner Gervais LLP
  • Article

    Transfers Between Spouses In Alberta Still Presumed Gifts

    One individual transfers property over to another individual without receiving anything in return. In this situation, it is generally assumed that the individual receiving the property will hold the property...
    CanadaCorporate/Commercial Law
    McLennan Ross LLP
    McLennan Ross LLP
  • Article

    Trust Reporting Requirements For 2021 In Canada

    For those that are looking to the Income Tax Act for relief and comfort on the horizon after a difficult 2020, we suggest looking elsewhere.
    CanadaCorporate/Commercial Law
    Thompson Dorfman Sweatman LLP
    Thompson Dorfman Sweatman LLP
  • Article

    Update On The 2018 Federal Budget Trust Reporting Requirements And Compliance

    The Canada Revenue Agency ("CRA") has recently announced that the proposed beneficial ownership reporting requirements for trusts will not be part of the 2021 T3 trust reporting requirements.
    CanadaCorporate/Commercial Law
    Fasken
    Fasken
  • Article

    Alberta Introduces Legislation To Update Trust Laws

    Alberta has introduced legislation designed to make it easier to create and manage trusts while reducing the need to go to court.
    CanadaFamily and Matrimonial
    MLT Aikins LLP
    MLT Aikins LLP
  • Article

    Changes To The Taxation Of Trusts And Estates – What You Need To Know

    The New Year will bring several important income tax changes to estates and testamentary trusts.
    CanadaFamily and Matrimonial
    Dale & Lessmann LLP
    Dale & Lessmann LLP
  • Showing 21–40 of 485 results

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