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Bare Trust: CRA’s latest T3 reporting requirement

Are you someone who: If you answered “Yes” to any of the above questions, you are classified as a bare trustee. The Canadian Government has recently introduced a new reporting requirement for all trust holders or more specifically, Bare Trust holders. This new requirement enforces bare trust holders to file a T3 trust return along […]

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Understanding the Underused Housing Tax for Canadians

What is it? The Underused Housing Tax is a federal tax of 1% on the ownership of vacant or underused housing. When is it due? The UHT deadline for the 2022 calendar year is April 30th, 2024. Failure to submit your UHT return by the provided date can result in fines of $5,000.00 for individuals […]

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UBER: Reporting Income, and Filing Taxes

Uber has become an incredibly popular source of self-employment for many Canadians. The flexibility and reliability provided by the group provides a simple yet high-return income that accommodates the varying circumstances of Canadian families and their lifestyles. A common misconception by many Canadian drivers is that Uber income does not need to be reported for […]

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