Do YOU have to file a Trust return (T3)?
For 2023 and following years, the CRA is becoming more invasive and demanding more information, backed by heavy penalties for disobedience, especially with regard to assets “held in trust” and real property. A Trust is can usually be defined as one party holding assets “in trust” for another party. The general rule is that if…
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Purpose of Accounting Regulatory Bodies
Accounting regulatory bodies in Canada, such as the Chartered Professional Accountants of Canada (CPA Canada) and provincial regulators like the Chartered Professional Accountants of Ontario (CPA Ontario) and the Autorité des marchés financiers (AMF) in Quebec, serve several important purposes to ensure the integrity and reliability of financial reporting and the accounting profession. These purposes…
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The Importance of Using a Chartered Professional Accountant in Ontario, Canada
In the complex and ever-evolving world of finance and taxation, the role of a Chartered Professional Accountant (CPA) cannot be overstated. In Ontario, Canada, where businesses and individuals grapple with a multitude of financial challenges, the expertise of a CPA is invaluable. From tax planning to financial strategy, CPAs bring a wealth of knowledge and…
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