February 11, 2022
Canada's Department of Finance releases proposals regarding additional reporting requirements for express trusts
Canada's Department of Finance on February 4 released for public comment draft legislative proposals (and accompanying explanatory notes) to implement most of the remaining measures from the 2021 federal budget. The February 4 proposals also include measures subjecting express trusts to additional reporting requirements, with some significant amendments from the original legislative proposals that were introduced in July 2018.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert