CICA Briefing: CRA and tax experts shed light on donation arrangements

If it sounds too good to be true, it probably is. That’s the message the Canada Revenue Agency (CRA) wishes to send regarding questionable donation tax shelter arrangements; read more about a 2013 panel discussion on this topic.

CRA has been scrutinizing donation arrangements, in particular gifting tax shelter schemes, for some time now, and they are also attracting media attention. CRA has issued warnings to taxpayers regarding these schemes, cautioning that if it sounds too good to be true, it probably is. To further discourage questionable donation tax shelter arrangements, in late 2012, CRA announced that, beginning with returns for the 2012 taxation year, it would hold assessments of returns for individuals participating in these schemes until CRA’s audit of the tax shelter is complete.

Join our panel of experts for a discussion on donation arrangements at the Toronto Board of Trade on March 7, 2013. Listen to a critical analysis of current court cases and their implications for future donation planning. Hear directly from CRA about their perspective and concerns on these schemes. Finally, understand where the acceptable line is in donation planning and what type of tax planning does work.

The session will conclude with a panel discussion and Q&A moderated by Gabe Hayos.

Visit our Income Tax Registration website for registration details.

This document was originally prepared by a legacy CPA organization.