CRA’s 2026 Rule Punishes You for Helping Family
If you’ve ever helped a family member financially — by putting your name on a bank account, property, or investment — this could affect you. Canada is moving toward enforcing new reporting rules around “bare trusts”, and the penalties for missing them can be significant — even if you owe zero tax. In this episode, we cover: What a bare trust actually means in simple terms Common situations that may be affected (kids’ accounts, joint property, crypto, family help) The T3 filing requirements and the 5% penalty involved Which exemptions apply — and which don’t Why tax professionals across Canada have raised concerns about these rules These rules have already gone through multiple revisions and delays, and are currently moving through the legislative process. If passed, they could impact thousands of Canadians. ****Use the links below to make a change! Links: 🔗 Sign the Petition: https://c.org/jyDCM2v5tm 🔗 Download the MP Letter Template: https://theadvisorstable.com/wp-conte... 🔗 Find your MP: https://www.ourcommons.ca/members/en 🔗 Download the Bare Trust Agreement Checklist: https://theadvisorstable.com/cra-bare... 📋 Full episode breakdown + free tax resources: https://www.theadvisorstable.com/star... 📞 Looking for Trusted Tax Advice? Connect with Sankalp (Sunny) Jaggi, at Cedar Consulting Group 📧 Email: [email protected] 🌐 Website: https://www.cedargroup.ca/ 🔔 Subscribe for real-world tax scenarios that show what happens without planning 👇 Comment below: Do you think rules like this are necessary for transparency — or are they going too far for everyday Canadians? *LEGAL DISCLAIMER:* This video is based on a real case, but names and some details have been changed to protect client confidentiality. This content is for educational purposes only and does not constitute legal or tax advice. Always consult with a qualified tax professional before making financial decisions. #TheAdvisorsTable #BareTrust #CRA #TaxPenalty #BillC15 #TaxStrategy #CanadianTaxPlanning #BusinessOwners #EstatePlanning 00:00 — New Canadian tax rule warning (Why you must watch) 00:25 — Expert reaction after reading the rule 00:45 — What a “Bare Trust” actually means 01:03 — Real-life examples (bank account, property, crypto, business) 01:42 — Filing requirement & special tax form explanation 02:07 — Massive penalties explained (even if tax owed is zero) 02:39 — Example: Child investment account penalty scenario 03:00 — Government exemptions (what is & isn’t exempt) 03:53 — Business owners facing thousands of filings 04:24 — CRA confusion & “trap” argument 04:42 — History of rule delays (2023 → 2026) 05:11 — Professional backlash & budget bill controversy 05:38 — Current status: Passed House, waiting in Senate 05:57 — Call to action (petition & sharing the video) 06:19 — Final message & closing
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