Tax Tip - Important updates to the trust reporting requirements for the 2025 taxation year: What you need to know

Unless specific conditions are met, all trusts (other than bare trusts) are required to file a T3 return including Schedule 15 for taxation years ending in 2025. It's important to review the trust ...
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2024 Taxation Year Reporting Exemption for Bare Trusts

On October 29, 2024, the Canada Revenue Agency (CRA) announced that bare trusts are once again exempt from filing the T3 Income Tax and Information Return (including Schedule 15 regarding beneficial ...