What are the Fairness Provisions or Tax Relief Provisions provided for by CRA?
Since the 1990s, the taxpayer relief provisions have given the CRA common-sense ways to help taxpayers who, because of extraordinary circumstances, are unable to meet their tax obligations. The taxpayer relief provisions give us the discretion in certain situations to: • cancel and waive penalties and interest; • accept late-filed, amended, or revoked elections (income tax only); and • issue income tax refunds beyond the normal three-year period (individuals and testamentary trusts only). Circumstances in which penalties and interest may be cancelled or waived We can forgive penalties and interest when they result from circumstances beyond a taxpayer’s control, including: • natural or human-made disasters, such as a flood or fire; • civil disturbances or disruptions in services, such as a postal strike; or • serious illness or accident, or serious emotional or mental distress (e.g., death in the immediate family). We can also forgive penalties and interest when they result primarily fr
Related Questions
- Is it expected that any transition relief will be provided for tax years beginning in 2010 to make it easier for taxpayers to meet the requirements for a qualifying arrangement?
- How have families benefited from tax relief and other support provided by the Government?
- What are the Fairness Provisions or Tax Relief Provisions provided for by CRA?
