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.
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