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By Jason Heath, CFP on November 3, 2025
Estimated reading time: 5 minutes

By Jason Heath, CFP on November 3, 2025
Estimated reading time: 5 minutes

Get the latest on 2025 trust and bare trust tax filing requirements in Canada, including CRA updates, exemptions, and deadlines for T3 returns.

Trust tax compliance has become more complicated in recent years with additional disclosure requirements. The potential for required bare trust tax return filings has created confusion for taxpayers for the upcoming tax season after two years of exemptions. Here is an update on the latest developments as of fall 2025.

A trust is a legal arrangement whereby a settlor transfers assets to a trustee or trustees who hold and manage those assets for a beneficiary or beneficiaries. The trustee is responsible for making decisions for the trust and there may be very specific instructions for how the assets are to be administered, and why and when the assets can be used on behalf of or paid to a beneficiary.

The most common types of trusts for individuals are testamentary trusts and inter vivos trusts.

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