Burke v. The King, 2022 TCC 158 The Canada Revenue Agency (CRA) conducted tax reassessments for the tax years 2014, 2015, and 2016, expressing doubts about the reported amounts in taxpayer Mr. Burke’s tax returns. Since Mr. Burke recorded most of his business dealings through handwritten notes and ledgers,...
What is the taxpayer relief application? When a taxpayer cannot meet tax payment deadlines or fulfill other obligations set by the Canada Revenue Agency (CRA) due to personal misfortune or uncontrollable circumstances, penalties and interest are typically imposed by the CRA. Luckily, subsection 220(3.1) of the Income Tax Act...
Non-residents of Canada for tax purposes are only taxed on their Canadian income Canadian tax residents are taxed based on their worldwide income. However, non-residents for Canadian tax purposes (which is a different test then immigration purposes) are only liable for Canadian tax on their Canadian source income such...