A Comprehensive Guide to Understanding and Managing Bare Trusts
Join Clearline Consulting in this session where we will walk you through common examples of bare trusts as well as a step-by-step example of how to complete the T3 filing for a bare trust, including naming the trust, obtaining a trust number, and completing the T3 including schedule 15. This session is for practitioners who have limited experience in filing trust returns or those are looking for common examples of bare trust arrangements.
This course offers an in-depth exploration of Bare Trusts, focusing on their preparation, legal documentation, and the intricacies involved in filing T3 Trust Income Tax and Information Returns. Through a combination of theoretical knowledge and practical examples, participants will gain a solid understanding of Bare Trust requirements, the importance of accurate documentation, the steps to apply for a Trust Number, and the process of completing and submitting the return. The course is designed to provide professionals with the tools and insights needed to navigate the complexities of Bare Trusts effectively.
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Clearline Consulting provides practitioners and their staff with the tools, training and advice they need to succeed and build thriving accounting firms. From tax compliance to estate planning, file monitoring to assisting with practice review, staff training to customized consulting solutions, our team exists to serve the needs of small to mid-sized public practice firms across Canada. Our collaborative, integrated approach means your firm has access to and support from knowledgeable practitioners who are in front of the ever-changing standards environment. Our core services include supporting firms with the implementation of the quality management standards, external file monitoring, services for accounting, assurance and taxation maters, provisions of templates and resources, practice management and risk mitigation consultations.
Tax Partner, Clearline Consulting CPA
Shane is a Tax Partner at Clearline Consulting and Clearline CPA. As such, he primarily focuses on income tax planning, reorganizations, and succession planning for Canadian owner-managed businesses in various industries. He received his Bachelor of Commerce degree from the University of Northern BC and obtained his CA designation in 2003. Shane started his accounting career in 2000 by working for a large international accounting firm for approximately ten years in their Prince George, Calgary, and Burnaby offices. Shane worked an additional five years for a mid-sized accounting firm located in Surrey, before opening his own accounting and tax practice in Surrey which operated for four years. Now as Clearline Consulting’s Tax Partner, Shane will be assisting practitioners with their client’s tax compliance, planning and corporate restructuring needs.
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