New trust reporting rules: CRA clarifies stance on late penalty relief for bare trusts
On March 12, 2024, the Canada Revenue Agency (“CRA”) clarified its position on the application of late filing penalties to bare trusts. Bare trusts that fail to meet the filing deadline for the 2023 tax year will only be subject […]
Recent changes to the Ontario Not-for-Profit Corporations Act, 2010: Six key changes you need to know
The long-awaited Ontario Not-for-Profit Corporations Act, 2010 (the “ONCA”) came into force on October 19, 2021. Under the ONCA, Ontario not-for-profit corporations that were previously governed under Ontario’s Corporations Act (the “OCA”) were given a three-year transition period, until October […]