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CRA's handling of bare trust reporting rules needs "systemic review," MP says

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The Canada Revenue Agency continues to face criticism over its decision to retract its requirement for Canadians to report bare trusts for this tax year, and now a Conservative MP wants a "systemic review" into the handling of the issue.

Earlier this year, there were concerns about facing a hefty penalty if the trusts weren't reported by April 2, sending Canadians scrambling to accountants for help, but less than a week before the deadline, the agency decided to no longer require the reporting.

As Sean Previl reports, the MP's call is not the only call the ombudsperson has received and it's looking into the issue, though it won't say if a review will happen.

For more info, please go to https://globalnews.ca/news/10411457/bare-trust-cra-review-taxpayers-ombudsman/
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Category
U.S. & Canada
Tags
global news, bare trust, CRA
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