
CRA Exempts Bare Trusts from Reporting Requirements for 2023 Tax Year
Dean LaBerge, Local Journalism Initiative Reporter In a last-minute reversal of the Canada Revenue Agency’s (CRA) inclusion of bare trusts in the newly implemented expanded trust reporting requirements, the CRA has now exempted bare trusts from the requirement to file a T3 Trust Income Tax and Information Return and Schedule 15 Beneficial Ownership Information of…