April 15th, 2025
Short-term Rentals & GST/HST: The Hidden Tax Trap on Condo Sales
Switching to and from Airbnb or another form of short-term rentals can result in a GST/HST bill when a condo is sold or there is a change in use.
New Bare Trust Reporting Rules
Posted on September 7th, 2023 in Domestic Tax, General Business
Under new Canadian legislation, bare trust arrangements are now subject to the filing requirements of a T3 Trust Income Tax and Information return. This new legislation applies to trusts with tax years ending on or after December 31, 2023, with significant penalties for failure to comply.
In this important tax alert, authored by RSM Canada, they highlight what information is required to be reported, the deadlines, penalties for non-compliance, and which trusts may be exempt from filing.
Article written by RSM Canada and referenced with permission as a member of RSM Canada Alliance.
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