NOTE: The information contained in the following pages of this Bulletin applies to both simple positions of trust and situations in which the agent is a nominee corporation, although the text refers only to mere trusts. The analogy between the simple trust and the relationship between the main agency and the main agency seems to justify their similar tax treatment. In De Mond Jr v. The Queen,  4 CTC 2007, Justice Lamarre (as it was at the time) stated that ”[d] him who is only a trust is ignored for income tax purposes if the cash truster holds the property as a mere agent for the economic beneficiary.” While the PTT exception continues to apply to bare trusts, the future usefulness and usefulness of these trusts in BC real estate transactions have recently been called into question. In concrete terms, a new PTT form was introduced on September 17, 2018, which requires that additional information be disclosed when a real estate transaction takes place through a trust, including a bare trust. In addition to disclosing the rightful owner of the property, the parties must also disclose certain information about any other party interested in the property, including a party with an economic interest. These new advertising obligations apply to both residential real estate transactions and commercial transactions. Given the above policy of simple trusts and fiduciary ownership activity, a person may have to register or unsubscribe for GST purposes. Over the years, there has been a lot of discussion about the real role of an agent, perhaps more in terms of simple trust. The community of law is not yet unanimous about the nature of the relationship between the agent and the economic beneficiary. In addition, the agent may engage in commercial activities that he or she believes he or she is carrying out on his own behalf.
For example, the agent may earn a fee or fee for the operation of the fiduciary property as an agent for the actual beneficiaries. In light of these activities, the agent should register for GST purposes, unless he or she completes one of the exceptions to the registration in subsection 240, paragraph 1, of the Act. As part of the appeal process with the ACF, the rating agency did not question TCC`s mere confidence, but the rating agency challenged the final conclusion of the case. In a decision split to 2-1, a majority of the ACF overturned the CBT judge`s decision. a trust in which the agent owns the lawful ownership of the property, but has no other obligations, obligations and obligations with respect to the estate as an agent, with the exception of transferring ownership of the property under the absolute control and instruction of the beneficiary. The Canadian Revenue Agency`s (CRA) audit activities for cash trusts and GST/HST have been strengthened. It is not uncommon for those who participate in joint ventures to register GST/HST`s sole agent and transfer the tax on behalf of all partner companies. In the opinion of the rating agency on the role of the simple agent, this type of agreement may lead to the issuance of GST/HST if the credit rating agency examines the joint venture structure.