Decoding Canada's New Trust Reporting Rules: Expert Insights and Advice

In this episode, we tackle the recent upheaval in the world of trusts, as the Canadian government and the Canada Revenue Agency (CRA) roll out new reporting rules that could significantly impact families and financial professionals across the country.Join me as we discuss the implications of these changes, explore why awareness remains low despite the looming deadlines, and discuss the concerns raised by professional accountants about the daunting and expensive nature of compliance. My guest, Michelle Connolly, Senior Vice-President of Advanced Tax & Estate Planning at Wellington-Altus, brings her expertise to the table, offering invaluable advice on navigating these new changes.Whether you're a taxpayer, financial advisor, or simply curious about the latest developments in Canadian tax law, this episode promises essential insights and practical guidance you won't want to miss.-----------------------------------------GUEST LINKS & RESOURCES: New Trust Rules ArticleLEARN MORE ABOUT BMO ETFS (SPONSOR)-----------------------------------------Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/Follow on X: https://twitter.com/strictlymoneytvGet in touch: https://saijelle.com/contact-us/Join Saij Elle’s FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/