Bare trusts are exempt from trust reporting requirements for 2023 - Canada.ca
Bare trusts are exempt from trust reporting requirements for 2023 - Canada.ca
www.canada.ca New – Bare trusts are exempt from trust reporting requirements for 2023 - Canada.ca
To support ongoing efforts to ensure the effectiveness and integrity of Canada’s tax system, and to meet its international obligations in relation to transparency and beneficial ownership, the Government of Canada introduced new reporting requirements for trusts.
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What a shambles. I have a T3 now which means I now know I needed a T3, previous to that it was still unclear so I just had to wait. After reading this article I'm still unclear on what bare trusts are. They could use some helpful examples or a diagram.