Last Minute Announcement – Bare Trusts Exempt from 2023 T3 Reporting Requirement
The Canada Revenue Agency (“CRA”) announced today that they will not require bare trusts to file a 2023 T3 return (including Schedule 15) unless it makes a direct request for […]
CRA Clarifies Penalty Relief for Bare Trusts
Bare trusts, unless specifically exempted, are required to file a 2023 T3 Return on or before April 2, 2024 with a completed T3 Schedule 15 to report beneficial ownership information. […]
Bare Trusts: Laying Bare Imminent T3 Filing Requirements
Unless a specific exemption applies, a 2023 T3 Return is required to be filed for Canadian resident bare trusts on or before April 2, 2024, along with a completed T3 […]
The Mandatory Disclosure Rules: CRA Releases Updated Guidance
On November 2, 2023, the CRA released updated guidance on the mandatory disclosure rules. The updated guidance can be accessed here. The release comes one day after the CRA announced […]
The Mandatory Disclosure Rules: New CRA Guidance in the Employment Context
Expanded mandatory disclosure rules under the Income Tax Act (Canada) came into effect in Canada on June 22, 2023, requiring the reporting of reportable transactions, notifiable transactions, and uncertain tax […]
Advisors Beware – New Notifiable Transactions Released
Effective November 1, 2023, the Minister of National Revenue has designated five notifiable transactions: Straddle loss creation transactions using a partnership; Avoidance of deemed disposal of trust property; Manipulation of […]
The Expanded Mandatory Disclosure Rules: An In-Depth Discussion
The expanded mandatory disclosure rules that came into effect on June 22, 2023 capture a broad range of business transactions and impose reporting obligations on taxpayers, advisors, and promoters alike.[1] These […]
Knock Knock – Underused Housing Tax Filings Due October 31, 2023
The administrative extension to file the Underused Housing Tax (“UHT”) return and pay the UHT expires on October 31, 2023. After this date, registered owners (other than excluded owners) of […]
WeirFoulds Represents Orford Mining in Closing of Multiple Transactions
WeirFoulds congratulates Orford Mining Corp. (“Orford Mining”) on its successful financing activities during the summer 2023. These included a non-brokered private placement of critical minerals flow-through units, flow-through units, and […]
So, an Employee Wants to Work Remotely in Canada, eh?
A number of issues can arise if an employee of a non-Canadian employer comes to Canada to work remotely. Unless the employee is seconded to a Canadian affiliate of the […]
Several WeirFoulds lawyers to serve on OBA Law Section executives for 2023-2024 term
WeirFoulds is pleased to announce that several of our lawyers have been elected to the OBA’s Law Section executives for the 2023-2024 term. Philip Cho, Partner, has been elected to […]
WeirFoulds Partner Megan Mah joins Daniel Wong on the FACL Board of Directors
We’re pleased to announce that WeirFoulds Partner Megan Mah has been elected to the Board of Directors of the Federation of Asian Canadian Lawyers (FACL). Megan joins WeirFoulds Partner Daniel […]
WeirFoulds associate Michael Ding appointed to The Advocates’ Society’s Tax Litigation Practice Group
WeirFoulds is pleased to announce that tax associate Michael Ding has been appointed to The Advocates’ Society’s Tax Litigation Practice Group. Over the years, Michael has been actively involved with […]
Communicating with Clients Workshop – Canadian Tax Foundation
Tax associate Michael Ding will moderate the Communicating with Clients Workshop being hosted by the Canadian Tax Foundation’s Toronto Young Practitioner Steering Committee on Thursday, February 23, 2023. The workshop […]
WeirFoulds Partner Lucinda Main elected to Canadian Tax Foundation’s Board of Governors
WeirFoulds Partner Lucinda (Lucy) Main has been elected to the Board of Governors of the Canadian Tax Foundation (CTF). As a member of the Board, Lucy will be responsible for […]