CRA announces that it will put on hold any individual returns claiming gifting tax shelter credits
16 November 2012 - 1:22pm
Email this ContentCRA has announced that any 2012 returns claiming credits from a gifting tax shelter will not be assessed until the shelter's audit is complete - which likely will not go well as "all gifting tax shelter schemes are audited and CRA has not found any that comply with Canadian tax laws."
Scott Armstrong. Summary of "The Canada Revenue Agency: protecting Canadians from gifting tax shelter schemes" CRA News Release, 30 October 2012 under s. 237.1(1) - tax shelter.