Extension on reporting requirements in respect of trusts

2022 Fall Economic Statement (presented on November 3) and associated legislation (Bill C-32, 172 pages, released on November 4) .

The expanded reporting requirements in respect of trusts will be delayed by one year. They will apply to fiscal years ending after December 30, 2023, rather than December 30, 2022. This legislation was included in Bill C-32.

Thanks to The Video Tax News Team