In the recent Federal Court of Canada decision in Telfer v. CRA, 2008 FC 218, the Court granted the taxpayer’s application and said that she was entitled to a relief of 50% of the interest charged. CRA held the Notices of Objection of the taxpayer in abeyance pending the outcome of a tax shelter case in the Tax Court of Canada. Based on the test case the taxpayer accepted a settlement offer from CRA. The taxpayer requested interest relief which was refused by CRA.
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