The Canadian tax landscape has changed, and it's essential for property owners and real estate investors to stay informed!

The trust reporting has been announced by the government for a number of years. This new trust reporting rule was supposed to be implemented by the government in 2022, but they decided to prioritize the Underused Housing Tax Act implementation over this trust reporting.

Don't get caught off guard by the new regulations get the full insight here!

Key Moments In This Episode
========================
00:00 Intro to Trust Return Filing for Property Owners
02:02 Legal vs. Beneficial Ownership Explained
04:06 Trust Reporting for Joint Accounts
06:11 No Filing Needed Under $50,000: Criteria Clarified
08:17 Real Estate Investors: New Filing Requirements
10:21 Reporting for Joint Property Ownership
12:16 FullYear Trust Return Filing Breakdown
14:19 Penalties and Corporate Tax MustKnows


Please make sure to speak to a professional that knows your personal situation before making a decision.

If you need to talk to someone on my team, email us at [email protected].



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