Navigate the complexities of Canada's latest bare trust reporting rules, mastering new definitions and exemptions to ensure full compliance for your clients.
Navigate the evolving landscape of Canadian tax law with this comprehensive update on Bare Trust reporting. Led by Anna Malajevaya, Principal at Advo Tax Law Professional Corporation, this course addresses the significant confusion surrounding the new reporting rules that have impacted tax practitioners and taxpayers alike. Following the administrative stay of the rules for the 2023 taxation year, the regulatory environment has shifted once again with new draft legislation released in August 2024 and further revised in August 2025. This session is designed to provide clarity on what constitutes a reportable arrangement and how to prepare effectively for the upcoming filing deadlines.
The course begins by establishing a solid foundation in trust law theory, explaining the critical distinctions between legal and beneficial ownership. You will explore the essential definitions of trusts, including express, resulting, and constructive trusts, and learn why the distinction between an active trust and a bare trust is vital for compliance. The presentation delves into the historical context of these rules, tracing the trajectory from OECD transparency initiatives to the current amendments in the Income Tax Act, helping you understand the government's intent behind these rigorous disclosure requirements.
A significant portion of the content is dedicated to dissecting the new "deemed trust" rules. You will be guided through the complex decision trees used to determine filing obligations under the proposed legislation. The instructor provides a detailed analysis of the August 2025 proposals, highlighting critical changes to exemptions. This includes a deep dive into the expanded "de minimis" rules for trusts with assets under $250,000, specific exclusions for family arrangements involving principal residences, and the treatment of joint bank accounts. Through practical examples—ranging from complex corporate structures to common family scenarios like adding a child to a property title—you will learn how to apply the law to real-world situations.
Key topics covered in this course include:
Whether you are a lawyer, accountant, or tax professional, this update provides the essential knowledge needed to mitigate compliance risks and advise clients accurately on the latest Bare Trust reporting obligations for the 2025 taxation year and beyond.
AJAG Professional Development was founded in 2003 with a mission of making professional development easier and more cost-effective for Canadian accountants and other financial advisory professionals. Our comprehensive range of flexible and reasonably-priced courses, programs and seminars are delivered online and in classroom-style settings in the Greater Toronto Area (Toronto, Oakville and Markham). AJAG features a roster of highly-qualified instructors who deliver content that is pertinent, up-to-date and engaging.
Tax Lawyer, Founder of Advotax Law
Anna helps clients who are being audited or were reassessed by the Canada Revenue Agency (CRA) resolve their disputes with the tax authorities. Anna represents her clients at the CRA level, at the Tax Court of Canada, and at the Federal Court. In addition to her tax litigation work, Anna advises her clients on a wide variety of Canadian income tax, HST, and international tax issues. She helps business owners organize their affairs in the most tax-efficient manner. Most of Anna's clients are small and medium-sized businesses, as well as individuals and estates. Anna's specific expertise is in income tax and HST issues related to the real estate and construction industry. Anna graduated from Osgoode Hall Law School in Toronto in 2007 and was called to the Ontario bar in 2008. She completed Parts I–III of the CICA In-Depth Tax Course. Prior to founding Advotax Law, Anna practiced tax law at one of the largest Bay Street firms. Anna is the founder of Canadian Tax Nerds, an informal discussion and study group of over 1,800 Canadian tax professionals. Anna is active in the Greater Toronto Area's Russian-speaking legal community. Anna provides legal services in English and Russian.
