CRA News 7 min read
New T3 Trust Reporting Rules: What Every Trustee Needs to Know
Starting with the 2023 tax year, most trusts — including bare trusts that were previously exempt — must file a T3 Return and disclose the identity of all trustees, beneficiaries, and settlors. This article explains the new Schedules 14 and 15.
Full analysis coming soon. Check back for the complete article.
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T3 trust reporting bare trust CRA Schedule 14
About the Author
Sarah Chen, CPA, CA
Senior Tax Manager
Sarah spent 11 years at a Big Four firm before joining Tax Simplified as a contributing editor. She specializes in owner-manager tax planning, estate planning, and cross-border US-Canada issues.