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TSX Steadies After Bond Rout | Canadian Money Brief — May 19, 2026

  TSX Steadies After Bond Rout — But Iran Uncertainty Keeps a Lid on Gains Canadian equities attempt a cautious bounce this morning after last week's sharp sell-off. Oil near US$100 props up energy shares, while gold cools in Canadian-dollar terms and the loonie holds a fragile grip at 72–73 cents US. Canadian Money Brief  ·  moneysavings.ca  ·  May 19, 2026 TSX ~34,020 ▲ Recovering CAD/USD $0.727 → Flat WTI Oil ~US$100 ▲ Elevated Gold (CAD) ~$6,243/oz ▼ Pullback BoC Rate On Hold → Patient Overview Canadian markets opened cautiously higher this Tuesday after the S&P/TSX Composite suffered its worst single-session drop in weeks on Friday, closing at 33,833 — a decline of 1.27% — as a global bond-market selloff combined with stalled US–Iran negotiations hammered sentiment. Today's session opened around 34,027 , with the index trading in a tight range of roughly 33,745 to 34,175, suggesting investors are rebuilding positions but remain wary. The dominant story...
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New CRA Rules for ‘Bare Trusts’: What You Need to Know

 


The Canada Revenue Agency (CRA) has introduced new reporting requirements for trusts, and it’s essential for Canadians to understand how these changes may impact their tax filings.

Starting from December 31, 2023, all trusts, unless specific conditions are met, must file a T3 Trust income tax and information return (T3 return) along with a Schedule 15 (Beneficial Ownership Information of a Trust). This means that many trusts, including bare trusts, will need to file for the first time.

What Is a Bare Trust?

A bare trust is a simple form of trust where the trustee holds legal title to the trust property, but the beneficiary has the right to all income and capital. These trusts are often used for estate planning, holding property for minors, or managing assets on behalf of someone else.

Key Points:

  1. Annual Filing: Affected trusts must now complete an annual T3 return, including the Schedule 15, for tax years ending after December 30, 2023.
  2. Additional Information: Trusts must provide additional information about reportable entities, including trustees, settlors, beneficiaries, and controlling persons.
  3. Exemptions: Some trusts, such as registered plans and qualified disability trusts, are exempt from these new rules.
  4. Trust Account Number: Before filing, ensure you have a trust account number. Obtain it instantly through the CRA’s online services.
  5. Deadline: The deadline for filing the T3 return and Schedule 15 is 90 days after the trust’s tax year-end. For most trusts, this is December 31, 2023.

Penalties and Relief

The CRA has clarified that it won’t apply gross negligence penalties for non-filing of 2023 bare trust returns except in “egregious cases” of gross negligence. However, it’s crucial to stay informed and meet the filing requirements to avoid any potential penalties.

As tax season approaches, consult your tax advisor or visit the CRA website for detailed guidance on complying with the new rules for bare trusts.

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