In our last article, we announced that on March 20, 2020, the Ontario Government filed an Order under subsection 7.1(2) of the Emergency Management and Civil Protection Act, stating that any statute, regulation, rule, by-law or order of the Government of Ontario that establishes a limitation period OR establishes any period of time within which [...]
Dean Blachford, Tax Litigation Lawyer Alexander Krush, Articling Student What are Gross Negligence Penalties? When the CRA conducts an audit and believes that the taxpayer intentionally under-reported their taxes, they will assess the taxpayer a gross negligence penalty. The financial impact of these penalties can be staggering. For income tax, the gross negligence penalty equals [...]
In the midst of the COVID-19 pandemic, business owners are having to make incredibly difficult decisions about how they allocate their precious financial resources. In order that business owners can make informed decisions that are in the best long-term interest of themselves and their families, it is critical that they fully understand the extent of [...]