Do you have a tax debt that seems impossible to pay off due to the high interest rates and penalties imposed by the CRA? Did you realize that both interest and penalties are discretionary charges?
The Minister may cancel, waive or reduce the interest or penalties that have been applied to your tax account.
You may be eligible for relief if any of the following situations have prevented your from meeting your tax obligations:
- Extraordinary Circumstances;
- Actions of the Canada Revenue Agency (“CRA”);
- Inability to Pay or Financial Hardship; or
- Other Circumstances.
The Minister can also exercise its discretion to allow for late, amended or revoked elections through these taxpayer relief provisions.
Lastly, you can also request a refund or reduce the amount payable beyond the normal three-year reassessment period.
Contact a lawyer at Rosen Kirshen Tax Law to find out if you are a qualified candidate for taxpayer relief.
Circumstances that may warrant relief
Late, Amended, Or Revoked Elections
Request for a refund beyond the normal three year period
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T1135 Discretionary Penalties
COVID-19 and Taxpayer Relief
This posting provides information of a general nature only. It does not provide legal advice nor can it or should it be relied upon. All taxation situations are specific to their facts and will differ from the situations in the articles and postings. If you have specific legal questions you should consult with a lawyer.