S15: CRA’s 2026 Rule Punishes You for Helping Family
If you’ve ever helped a family member financially — by putting your name on a bank account, property, or investment — this could affect you. Canada is moving toward enforcing new reporting rules around “bare trusts”, and the penalties for missing them can be significant — even…
Show Notes
If you’ve ever helped a family member financially — by putting your name on a bank account, property, or investment — this could affect you.
Canada is moving toward enforcing new reporting rules around “bare trusts”, and the penalties for missing them can be significant — even if you owe zero tax.
In this episode, we cover:
- What a bare trust actually means in simple terms
- Common situations that may be affected (kids’ accounts, joint property, crypto, family help)
- The T3 filing requirements and the 5% penalty involved
- Which exemptions apply — and which don’t
- Why tax professionals across Canada have raised concerns about these rules
These rules have already gone through multiple revisions and delays, and are currently moving through the legislative process.
If passed, they could impact thousands of Canadians. ****Use the links below to make a change!
*Links:*
🔗 *Sign the Petition:* https://c.org/jyDCM2v5tm
🔗 *Download the MP Letter Template:* https://theadvisorstable.com/wp-content/uploads/2026/03/MP_Letter_Template_Bare_Trust.docx
🔗 *Find your MP:* https://www.ourcommons.ca/members/en
🔗 *Download the Bare Trust Agreement Checklist:* https://theadvisorstable.com/cra-bare-trust-rule-2026-family-penalties/
📥 Resources from this episode
Bare Trust Filing Checklist
A three-phase walkthrough to identify whether you're sitting on a bare trust under Canada's new reporting rules — with the exemptions, the 5%-of-property penalty math, and the specific T3 / Schedule 15 steps to take. For anyone whose name is on a family member's account or property.
MP Letter Template — Bare Trust Rules
A pre-written letter to your Member of Parliament asking them to oppose the bare-trust reporting penalties before Bill C-15 becomes law. Add your name, find your MP, send. No email required.
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