Jul 19, 2017
“Changes to strategies that have been the basis for shareholder… Read more »
“All files should be checked..”
Generally speaking, the Fairness Rules allow the Canada Revenue Agency discretion to
Because of the changes in the Budget, any relief for taxation years between 1985 and 1994 must be submitted before January 1,2005.
Therefore, all tax advisors should review those situations where there may be the possibility that there will be a fairness request, and the request should be made by December 31, 2004. Once this deadline has passed, it will be impossible to request relief for the years 1985 to 1994.
On a go-forward basis, the Fairness Rules will only apply for the previous ten years. For example, in the year 2008, the fairness request can only go back to 1998.
A careful review of all files should be done.
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