Bare Trust reporting...suspended due to lack of interest (?) and confusion (!)

[Fire]

Originally Posted by CliffFletcher

We’re already most of the way there. With my CRA and TurboxTax accounts linked, almost all of my fields are automatically populated as I prepare my return. T4s, RRSP contributions, etc. For simple returns, it’s quite convenient. But when my returns get more complicated as I start drawing a pension, declaring investment income, etc., I’ll likely have a professional do them.

Adding pension income or investment income to tax software should be very easy unless your investment income is unusual in some way.

[Locke]

Originally Posted by Fire

Adding pension income or investment income to tax software should be very easy unless your investment income is unusual in some way.

Thats the beauty of 'off-the-shelf' tax software. They get to pick and choose what they support depending on how much you pay.

[chemgear]

https://globalnews.ca/news/10617029/...-ombudsperson/

Canada’s taxpayers’ ombudsperson is launching a systemic review into the Canada Revenue Agency’s handling of bare trust reporting requirements, months after Canadians were left confused on if they needed to file the returns before the agency hit pause.


The ombudsperson’s office made the announcement on Wednesday, saying François Boileau would look into whether the CRA respected taxpayers’ rights in its administration of the reporting requirements for the 2023 tax year.

[iggy_oi]

Originally Posted by taxbuster

we work HARD and read tons of legal crap to keep YOUR money in YOUR pockets. Apparently not many actually appreciate that.

When you put it like that I’d have to agree that people not appreciating such things is a real epidemic for sure