Bulletin alerts industry firms to risky activity involving legal profession
Department of Finance proposals would also reduce the number of people who must file a bare trust return, starting in 2025
Joint tax committee will ask Finance to change the existing legislation
Agency received more than 52,000 bare trust returns for 2023, despite issuing last-minute filing exemption
Trusts must disclose pre- and post-June 25 gains or face negative tax consequences
Funds can choose the option more favourable to fund holders — though detailed calculation comes with challenges
Trusts holding GICs would not qualify for a filing exemption available to low-value trusts
Taxpayers have been given too little time to plan next steps, CBA-CPA joint committee says
Lawyers for firm's founder seek adjournment amid unpaid legal bills
April 30 deadline looms for 2022 and 2023 UHT returns