The final rules, the exemptions, and how to get clients ready.
After years of deferrals, exemptions, and shifting draft legislation, bare trusts are finally on deck: the first filing deadline arrives March 31, 2027. So where did we land?
This session will get partners caught up on the final rules and how to prepare clients efficiently. It details the various exemptions available, including those for small trusts, specific investment accounts, and principal residences, while addressing the complexities of nominee corporations and partnership arrangements.
The content emphasizes the practical steps for identifying, documenting, and monitoring bare trust arrangements to ensure compliance with CRA regulations. Participants will gain clarity on the administrative expectations for filing, including the use of Schedule 15, and the importance of maintaining consistent documentation to support filing positions.
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Helping Firms Thrive and Survive
Clearline Consulting provides practitioners and their staff with the tools, training and advice they need to succeed and build thriving accounting firms. From tax compliance to estate planning, file monitoring to assisting with practice review, staff training to customized consulting solutions, our team exists to serve the needs of small to mid-sized public practice firms across Canada. Our collaborative, integrated approach means your firm has access to and support from knowledgeable practitioners who are in front of the ever-changing standards environment. Our core services include supporting firms with the implementation of the quality management standards, external file monitoring, services for accounting, assurance and taxation maters, provisions of templates and resources, practice management and risk mitigation consultations.
Tax Partner, Clearline Consulting CPA
Shane is a Tax Partner at Clearline Consulting and Clearline CPA. As such, he primarily focuses on income tax planning, reorganizations, and succession planning for Canadian owner-managed businesses in various industries. He received his Bachelor of Commerce degree from the University of Northern BC and obtained his CA designation in 2003. Shane started his accounting career in 2000 by working for a large international accounting firm for approximately ten years in their Prince George, Calgary, and Burnaby offices. Shane worked an additional five years for a mid-sized accounting firm located in Surrey, before opening his own accounting and tax practice in Surrey which operated for four years. Now as Clearline Consulting’s Tax Partner, Shane will be assisting practitioners with their client’s tax compliance, planning and corporate restructuring needs.
