CRA’s 2026 Rule Punishes You For Helping Family
How Canada's proposed bare trust reporting rules could impose costly filing requirements and penalties on ordinary family arrangements – even when no tax is owed.
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 Solo, 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.
📥 Resources from this episode
Bare Trust Filing Checklist
The Advisors TableBare Trust Filing Checklist
A 3-phase guide to identify bare trusts under Canada's reporting rules, including exemptions, 5% penalty calculations, and required T3/Schedule 15 filings.
MP Letter Template — Bare Trust Rules
The Advisors TableMP 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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