CRA's last-minute bare trust rule change sparks frustration among Canadian taxpayers
HTML-код
- Опубликовано: 6 апр 2024
- The recent decision by the Canadian Revenue Agency (CRA) to retract bare trust reporting rules has resulted in relief for some Canadians.
However, for others, the news comes as too little, too late, as they have already spent hundreds of dollars on tax preparation fees.
The new rule was introduced this year, and many Canadians were unaware of its existence and whether they were a part of such an arrangement.
As Global's Naomi Barghiel reports, announcing the rule changes at the last minute has caused frustration among taxpayers.
For more info, please go to globalnews.ca/news/10406070/c...
Subscribe to Global News Channel HERE: bit.ly/20fcXDc
Like Global News on Facebook HERE: bit.ly/255GMJQ
Follow Global News on Twitter HERE: bit.ly/1Toz8mt
Follow Global News on Instagram HERE: bit.ly/2QZaZIB
#GlobalNews #CRA #canada #taxseason
Canada is a mess
I want to see heads roll. Last minute rule changes like this are unacceptable.
Is there one thing in Canada that's attached to the Canadian government that isn't a complete disaster!
This organization needs abolished asap.
The cra needs to be abolished? And I suppose your a conservative trying to weigh into a matter you know nothing about…how about you stick to right wing propaganda this type of news is above your pay grade
this, rcmp, c b c/ct v /cp 24...yuppers, i been preaching Decentralize for yeeeeears.
Abolish Income tax and just have a sales tax on new non-essential goods. That would eliminate bureaucracy jobs and CRA employees could go out and get productive jobs
The tax code is nothing if not a make-work program for high-priced accountants.
The GST costs even more...for merchants and government. A thick rule book that says 1 donut is taxed, 6 are not, 499g ice cream tub is taxed, 500 is not, salted peanuts taxed, unsalted not, etc. And when finance minister michael wilson was told it would cost too much to admin, he said he wanted a "broad based" tax that would capture those who paid no income tax. When told that it hurt the poor, he said we would create a bureaucracy that looked at your low income tax, and refunded what you MIGHT have paid in GST. (always more than you paid!) We now have an income based sales tax!
@@rtel123 You make good point about the rules. It’s time to get back to common sense.
Anything involving government or taxes in Canada is a complete disaster. Yet another example here. The rot starts at the top.
Agree. 2008 when harpy hired foreigners to destroy elderly, small businesses & self employed. Just like the 70s with the farmers.
This country needs to be reformatted
Also is its big brother.
@@Anonymous------ Today, it being a judish enterprise, it is likely not either big brother or sister but some sort, me, they, him, he wanna be a pony with pink hair and stone aged disks in their ear lobes.
@@GertjanZwiggelaar-mo4tz
Reformat all.
Canada needs a low level format.
@@on2thenextthing
And departition too. 🥴
CRA . Totally unregulated firm. They do as they please and charge penalties and interest rates that would make a loan shark blush
And dealing with them is beyond horrible.
Please report on dictator Trudeau's online censorship bill C-63 😢
Come on Global, report what's really happening in Canada, grow a pair.
Wait so we just freely gave them information they have no business knowing about
Big government must go. Canadian pay taxes & expect good & responsibility for its action. CRA powers must be curtailed & the non political & citizens ombudsman be the oversight to prevent over reach.
Absolutely. The CRA is the biggest criminal organization in the country.
CRA does not even publish or have to publish an annual report. Cleaned me out thrice for spurious reasons. They are legal thieves, bottom line. CRA has no legal claims on your property. IT IS A PRIVATELY OWNED SCAM.
Cra making life hard for Canadians NO WAY!
It’s all the government body! They just here to take ur money nothing more nothing less! The whole gov needs to be removed and start a new!!
The cra doesn’t care
i tried to get an instant refund at H&R block multiple times in march they said the CRA has not posted the tax checks ready in march, theyr late, now in april i cant get an instant refund because my return is 550$ not 600$
When DIDN’T the CRA go out of its way to make things hard for Canadians?
Trying to contact a rep is totally unavailable and it is no wonder why people are so frustrated
put more money into people’s pocket
Read the article. That’s what this does.
The deadline is April 30th
I followed the deadline and it cost me money. What next. I will claim this on my taxes
If you fight the CRA in court and win, you still end up paying the costs. They should be subject to the same penalties they apply to us.
CRA needs a major overhaul.
Auditor general report a few years ago found 30% of advice they give is wrong!
END the CRA scam
I handled my bare trust requirements without hiring an accountant, and you know what it wasn't that hard - saying a firm has to spend hours and hours researching when many clients have the same situation is disingenuous.
Billions lost in BC with foreigners, while they go after a family struggling for 300 bucks.
Who does this actually effect?
The tax code is not much more than a make-work program for high-priced accountants.
The worst news from the minister is that they will "rethink" it for 2024. That means more retroactive nonsense in Jan 2025! She needs to apologize and resign for incompetence.
I got hit for 2000 dollars from three years ago.
Trudeau for you!
Canada has natural resources. Like UAE (Dubai, etc), Canada should utilize its natural resources so that Canadians (and legal residents) do not need to pay income or sales tax.
Given the increased cost of living, it would be nice if low income seniors pay no income tax (federal and provincial) on government pensions and for overall family income less than $50K/ year (if the Senior had worked in Canada a minimum of 30 years after age 18). Such seniors have Contributed to Canada over the years by paying federal and provincial taxes as well as sales tax. This would be a way of assisting middle to low income Seniors. Just a suggestion.
What’s new? These people have no accountabilities. They don’t care. What can you do to them?
Everybody STOP!! paying taxes. FJT!!!
Joint accounts are not automatically a bare trust. Poor reporting. There can be two trustees and two beneficiaries. Research Pecore v Pecore (2007).
I didn’t ge the climate action incentive today, was looking forward to atleast 100$ so I could get bread milk and eggs and have 20$ left 😂but I got nothing for some reason. Trudeau and the cra are killing Canadians
April 2nd is deadline for what?
@@leslieb551 Thanks for the clarification!
@@leslieb551 It's just a first step, Leslie. One thing is clear to me: It's an ongoing destruction of everything natural and human - in this case it's the traditional family unit where parents try their best to help and make life easier for their children, and then, in later years, the children (and often the grandchildren) try their best to take care of their aging and elderly parents. But now, every family unit is a bare trust. Parents, mothers, fathers, children are now, unwittingly and unknowingly, are called trustees, agents and beneficiaries who have to fill out the forms that are so convoluted and unclear that they have to pay hundreds, thousands of dollars to professional accountants and are severely financially punished for every mistake, error and late filing. After every family rushes to get registered as a bare trust to avoid the punishment, next thing that will come is clearly the inheritance tax.
@@verar5844absolutely. This government has to go. Canadians need to take back their country from these communist criminals.
worth CRA's while now that adults have less than their parents did for the first time ever. And 75% of first time home buyers have parents ob the co-sign or gift endorsement😂😂😂 this country us a pathetic joke in 2024
@@useyourmind5 Agree. Altogether, the de-industrialization, the ever-increasing bureaucracy, the government's inability to govern - all leads to pauperization of not only Canada, but every country in Western world.
Dont file until liberals are out
The unintended impact is that the Crown trustees would have to report all the bare trusts that are in place with the Birth certificates. That is why it was scrapped.
Do you have any idea what 'the Crown' actually is?
The Crown is The City of London Inc. It is the heart of international jewish finance. It is a corporation, a dead entity that can not contract and neither can its liveried agents; ie: the policy enforcers. But, that is Common Law and not what is presently oppressing us which are Admiralty and Noahide laws. Neither have a place on this land. The former is the law of the sea and the later are the rules the entity has for the goyim.
trudeaus Canada 🇨🇦
BOO HOO ACCOUNTING FIRMS CAN'T CHARGE THEIR CLIENTS FOR EXTRA FEES FOR FILING BARE TRUSTS AND PEOPLE CAN SAVE MONEY... BOO F N HOO I DON'T CARE.... ACCOUNTING FIRMS CHARGE TOO MUCH FOR TAX WORK FOR DECADES
Filing tax returns is actually very simple if you do it electronically. If you are a simple return filer, a couple of items, CPP, GIS and maybe some other little income from the sale of your gold fish, if you decide to include that as income, even if there are no paper trails, but, some people have been scared to death by those lying, thieving, plundering pirates at the jude owned CRA, it takes only a few minutes and is FREE.
the "Canadian Taxpayers Federation" is about as politically neutral as the People's Party of Canada
Doesn't make the criticism less valid
Except for the fact that they report on CRA and taxpayer abuse. CRA is well known as a very abusive organization with far too much power.
@@on2thenextthing ya, only to people who cheat on their taxes. Follow the law and you have no problems.
im happy ppl lost money
Considering I never voted liberal in my life. I’m glad you’re happy people are struggling
🗞️🗞️ Updated: “Been that way for 30 years.” - U.S. Justice Department on the lack of Human Rights in Oklahoma County Jail, 2020
“Makes me feel human again after this place.” - Oklahoma City Art Museum review after life in the local shelters, 2024
“It is said that no one truly knows a nation until one has been inside its jails. A nation should not be judged by how it treats its highest citizens, but its lowest ones.” - Nelson Mandela 🥂🥂
I never got gst April 5 th
Time to hit "Restart" to this government