North America: Tax

After three years of deferrals, Canada's enhanced trust reporting rules are now in effect for the 2026 taxation year, with commercial real estate structures facing their first filing deadline on March 31, 2027. While family arrangements may benefit from simplified exceptions, many common GTA market structures—including nominee corporations, co-tenancy joint ventures, and general partners holding title for limited partnerships—fall within the expanded reporting net.

In response to constrained global diesel supplies and rising fuel costs, the Treasury Department is directed to provide temporary tax relief for farmers, truckers, and other affected taxpayers. The order mandates deferral of diesel excise taxes incurred between October and December 2026, while also directing agencies to explore options for permanently forgiving these deferred obligations. Implementation requires coordination across Treasury, IRS, Agriculture, and Transportation departments to balance relief

Texas Comptroller Don Huffines has issued an executive order directing his office to amend Rule 3.330 to remove marketplace and platform fees from the definition of taxable data processing services, potentially ending what he calls a "hidden double tax" on online marketplace sellers, food delivery apps, ride-hailing services, and other platform-based businesses.