Our Insights

New trust disclosure and reporting rules postponed

In the news | Bloomberg Tax | David Hogan | Canadian Transfer Pricing and Cross-border Tax (Podcast)

In the news | Canadian Family Offices | Mindy Mayman | Investing for the long haul, or tomorrow?

Our Partner, Mindy Mayman, shared her thoughts on generational gaps in families' investment strategies in an interview with Canadian Family Offices. 

In the news | Canadian Grocer Magazine | David Greenham | Curbing Cybercrime

Our Vice President, David Greenham, sat down with Canadian Grocer Magazine to share his tips for ways businesses can protect their data considering the current cyber threat landscape.

In the news | Les Affaires | Justine Delisle | Succeeding a transition with the support of a CPA

Our partner, Justine Delisle, explained the different elements of Richter's Financial Literacy Program, in an interview with Les Affaires.

New 2021 Filing Requirements for Trusts

Many trusts were not required to file trust income tax returns before the 2021 taxation year, but now they are. Along with the requirement to file the returns is a new requirement to disclose information about the trust settlors, trustees, and beneficiaries. Failure to disclose can result in a penalty of up to 5% of the value of the trust assets which can be very costly if not identified.

New Trust Filing and Reporting Requirements

The federal 2018 budget announced new trust filing and reporting requirements that are coming into force in the 2021 taxation year. A trust is currently only required to file an income tax return for taxation years in which the trust owes tax or disposes of property. As of the 2021 taxation year, most trusts will be required to file income tax returns for every taxation year.

Credit Card Rewards: A Grey Zone of United States Taxation?

Have you ever used your credit card for the reward points? Most know that making purchases with credit cards allows …