April 26th, 2024
Plan Ahead to Overcome Increased Capital Gains Inclusion Rate
(authored by RSM CANADA) Exploring tax planning strategies in the face of the proposed increase to the capital gains inclusion rate.
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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