Principal Issues: Whether the legal fees incurred by a taxpayer with respect to a voluntary disclosure are an allowable deduction according to the Income Tax Act.
Position: No.
Reasons: Our position is the professional fees relating to the filing of a voluntary disclosure do not meet the requirements of the provisions of subsection 60(o) of the Act due to the fact that they do not relate to an objection or appeal. In addition, it is our view that these fees were not incurred to earn income from a business or property. Therefore they are not deductible under any other section of the Act.