The Canadian Revenue Agency (CRA) has recently announced that bare trusts are not required to file T3 returns and Schedule 15 for the 2024 tax year, extending from a similar exemption for the 2023 tax year. Before the exemption, new tax rules for trusts were scheduled to become effective...
Introduction: Stack v The King, 2024 TCC 137 In Stack v The King, 2024 TCC 137, the Tax Court of Canada blocked the Canada Revenue Agency’s attempt to obtain various documents, including an email record, that were protected by solicitor-client privilege. Although the taxpayer’s accountant was one of the...
Introduction: An Overview of Case Laws Helps to Understand Circumstances that May Warrant Relief under the CRA’s Taxpayer Relief Provisions for Canadian Taxpayers Under subsection 220 (3.1) of the Income Tax Act and subsection 281.1 (1) of the Excise Tax Act, the Canada Revenue Agency (CRA) has the discretion...