Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Principal Issues: Requesting the expansion of the Home Buyers Plan to include the rebuilding of flood victims homes.
Position: Referred to Finance.
XXXXXXXXXX
Dear XXXXXXXXXX:
Thank you for your correspondence about expanding the Home Buyers’ Plan to property owners suffering flood damage to their homes in your township this year. Thank you also for your understanding regarding the delay of this response.
I regret to hear of the difficult times the residents of your township have been facing. The Canada Revenue Agency (CRA) understands that disasters can cause great difficulties for taxpayers whose primary concerns during these times are their families, homes, businesses, and communities. To assist taxpayers, the CRA provides relief in extraordinary circumstances, such as after a natural disaster, by giving special consideration to taxpayers who have trouble meeting their tax obligations. For example, the CRA may waive penalties and interest under the taxpayer relief provisions.
The CRA website provides information on disasters and disaster relief at cra.gc.ca/gncy/dsstrs, which includes information about the taxpayer relief provisions.
Expanding the Home Buyers’ Plan as you suggest would require changes to the Income Tax Act. Any changes to the Act fall under the responsibility of the Minister of Finance. Therefore, I am sending a copy of our correspondence to the Honourable Bill Morneau, Minister of Finance, for his consideration.
I wish the best to you, your family, and your community as you continue to move forward after the devastating flood of 2017.
I trust the referral I have provided is helpful.
Sincerely,
The Honourable Diane Lebouthillier
c.c.: The Honourable Bill Morneau‚ P.C.‚ M.P.
Minister of Finance
House of Commons
Ottawa ON K1A 0L5
George A Robertson CPA, CMA
905-721-5196
2017-070978
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