Holiday Hours: Our offices will be closed for the holidays from December 26-30, 2022 and January 2, 2023.

Nanaimo Office

111 Wallace Street
P.O. Box 667
Nanaimo, BC
V9R 5L9
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Tel: 250.754.3321
Fax: 250.754.1148
Email: [email protected]

Port Alberni Office

3290 Third Avenue
Port Alberni, BC
V9Y 4E1
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Tel: 250.724.1275
Fax: 250.724.7200
Email: [email protected]

Courtenay Office

#211-1978 Cliffe Avenue
Courtenay, BC
V9N 2L1
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Tel: 250.871.1114
Fax: 250.754.1148
Email: [email protected]

Toll-Free: 1.800.263.3321

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New Tax Rules for 2023: Bare Trusts Face Unexpected Reporting Requirements and Penalties

A recent article in the Comox Valley Record (Taxpayers beware: new trust reporting requirements include bare trusts) has highlighted the significant change in Canadian tax regulations for 2023, which requires almost all trusts, including “bare trusts,” to file a T3 Trust Income Tax Return, regardless of their activity or income levels. The article highlights the…

New Trust Reporting Requirements – Bare Trusts are Caught

Almost all trusts must now file a T3 Trust Income Tax Return, regardless of activity or income. The filing deadline is April 2, 2024, and a failure to file may result in penalties and unfavourable tax implications. Notably, “bare trusts” are caught by the new rules. Bare Trusts In fairly simple terms, a bare trust…

James Rhodes Joins the RLR Partnership

We are delighted to announce that effective January 1, 2024, James Rhodes joined Ramsay Lampman Rhodes as a partner. With a focus on real estate and business law, James has consistently demonstrated outstanding dedication and expertise that has benefited our clients. Join us in congratulating James. We are confident that his contributions to the firm…

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