To electronically register a transfer with a trust that has not undergone a change in economic ownership, the following explanations must be selected in the Nominal tab: for the transfer to be submitted electronically, the following documents must be submitted to the Ministry`s Property Taxes and Resources Division for confirmation of: that the land transfer tax has been paid: note: the Property Taxes and Resources Division of the Ministry of Finance may require additional evidence of confidence and circumstances of the transfer. To register a paper transfer or a document with a trust that has not been the subject of a change in economic ownership, the following documents must be presented for registration so that registration can be done without payment of taxes: the most frequent use of simple trusts is, by far, the possession of legal title to real estate, private, private or private, in trust for a beneficiary. As with other trusts, the legal and economic interest of the property is separated between the agent and the beneficiary. However, in the case of a simple trust, the mandatary is a mere agent of the beneficiary who must act on the instructions of that party. As a result, the trust is ignored for income tax purposes and the beneficial owner is considered the beneficial owner of the property. A change in the economic ownership of the land which, after the 18th The tax is governed by section 3 of the Act and whose proof is not entered on the title within thirty days of the modification. A return on the acquisition of an economic interest in the form of land must be submitted to the Minister within 30 days of the change of economic ownership. If this has been overlooked, the ministry recommends that you use its directive to voluntarily issue penalties for non-submission of the return and timely payment of tax if certain conditions are met. For more information, see the ministry`s Voluntary Disclosure Bulletin, which ontario.ca/finance at 1-866-ONT-TAXS (1-866-668-8297) at the ministry or on the ministry`s website. In the case of a transfer from an agent to a beneficial owner, if: the proof to be provided is a completed supplementary trust declaration attesting to the facts giving entitlement to the allocation of the instrument at zero “value of the consideration”. This affidavit must be submitted to the Ministry of Finance. that the agent (name) received registered ownership of the property on (defined date) as a result of an agreement to buy and sell or transfer either from the beneficial owner (defined name) or from an agent (defined name). The exhibitions are accompanied by a photocopy of the purchase and sale contract by which the agent took over the property (if any) and a copy of the transfer to the agent.

If this newsletter does not fully address your particular situation, read the law and the rules related to it, visit our website at ontario.ca/finance or contact us: Recent comments from the BC government and changes to disclosure obligations during the real estate transfer have cast doubt on whether a certain type of trust, the trust, will continue to be a useful tool for real estate transactions BC. . . .