CRA Reverses Course on Bare Trust Filings

By McGovern Hurley

On March 28, 2024, the Canada Revenue Agency announced that it will no longer require bare trusts to file a T3 trust return, including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request.

For more information the team here at McGovern Hurley LLP is always happy to help.

John Mendis, Tax Advisory and Compliance Partner,

Greg Furyk, Business Advisory and Compliance Partner,