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In this episode, we look at the disrespect shown by the Canada Earnings Company's last-minute change in bare trust reporting requirements. After months of preparation, the CRA's abrupt turnaround has left accounting professionals and taxpayers annoyed, highlighting a significant policy mishap.
Also in this episode:
Trump Media's stock plunges 25% after a reported bottom line of $58.2 million for 2023, exposing monetary struggles in spite of a high market appraisal.
Disney and Guv DeSantis end their heated legal battle with a settlement, marking a brand-new chapter for both celebrations in Florida.
BCE Inc. awards millions in benefits to top executives amid missing out on financial targets and announcing job cuts, raising concerns about compensation practices.
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My Dad co-signed a mortgage for his son. Does not pay the mortgage, did not pay the down payment. Is on mortgage as a guarantor. Is on title. Has spent $1200 this year on accounting and hassle related to the bare trust.
Affected people should gather together and sue
From my understanding a Gurantor is not considered as being in a Bare Trust but the fact that his name is on the title may make it so. Totally confusing almost 100 page guide to filing that is full of accounting descriptions. There should be no need to file a trust return for simply cosigning a mortgage to get your kids into the housing market. How else are they going to get in with prices where they are now. Total government overreach and waste of our dollars for both the person filing and for CRA ( who should have better things to do)
The federal government is out of control, IMO. On many levels. This is just one more example.
Thank you Marc for these reports.
Agree hot mess cancelling at last minute…embarrassing for the government……
Cost me personally re bare trust….. not accountants fault …. Lets hope cra uses common sense moving forward on the bare trust front
Maybe cra will pay our accountants bills 😉 re bare trust …done for nothing
That’s our government! Very excited to get to a federal vote…. Life long NDP and I see the light and am absolutely voting Polievre
LOL
…at least they flip flopped the right way..a slim silver lining at best.
It will be interesting to see how DJT does now that it is out for the market to assess against it’s peers.
I wonder if the DIS DeSantos cease fire will impact the stock price? I’m betting yes…
this government as a whole is a damn embarrassment and im honestly sick of paying the taxes i pay to fund this crap
Wow. I’m not surprised of the cancellation of trust. Anything can happen here. Embarrassing.
Thanks Marc for the update.
As an unhappy BCE shareholder, I am NOT liking these excessive executive payouts.
Same with underused housing last year, waste of time and money. Zero respect for citizens.
How are they not telling us if we need to file T3 in the current year that its for? Like are we going to need to file next year?
Agree but there was never a rush or deadline for 2023 . They had waived penalties
The federal government is out of control. That’s my personal conclusion.