Information Circulars IC00-1R5 Voluntary Disclosures Program and IC07-1 Taxpayer Relief Provisions Updated for Bozzer Decision
After a delay of almost 5 years CRA has announced it’s implementation of the Federal Court of Appeal decision in Bozzer v. Canada (2011 FCA 186). The effect of the policy change is that issues giving rise to taxpayer relief that are more than 10 years old will qualify for interest relief for a 10 year period going back from the date of the taxpayer relief application. CRA updated their information circulars IC00-1R5 Voluntary Disclosures Program and IC07-1 Taxpayer Relief Provisions to reflect the taxpayer victory in this tax case.
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"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
