New T3 Trust Reporting Rules
We want to keep you informed about recent changes to trust reporting due to federal legislation. These changes impact taxation years ending on or after December 31, 2023, with notable updates:
- Expanded Scope: More trusts now require annual T3 returns.
- Enhanced Disclosure: Additional information on settlors, trustees, and beneficiaries is now mandatory.
- Bare Trusts Alert: Annual trust returns may be required for bare trusts.
For detailed information, click here.