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Peter Kupovics, CPA, CMA, MBA

    • Home
    • Why Us?
      • Back
      • Our Value
      • Our Approach
      • Our Guarantees & Offers
      • Our Philosophy
      • Our Strengths
    • About Us
      • Back
      • About Us
      • How Are We Different?
      • Our Core Values
      • Business Health Check
    • Services
      • Back
      • All Services
      • Accounting, HST, and WSIB
      • Taxes, Tax Planning, and Tax Advice
      • Financial Statements and Business Advice
      • Reality Check
      • Payroll
      • Accounting Software
    • FAQs
    • 2024 Automobile Deduction
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      • Back
      • Our Ideal Client
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    • Contact Us

Gifting Tax Shelter Donation Arrangements and Non-Cash Donations

By Liz O'Dowd on November 7, 2012 Comment BubbleLeave a comment

Those who have participated in aggressive gifting tax shelter donation arrangements in 2012, which provide donation receipts much greater than the actual donation amount, should not claim the donation on their initial tax return filed in 2013, because CRA will not assess these returns until the tax shelter has been audited, which could take up to 2 years.

A Ways and Means Motion was tabled in October, including income tax amendments regarding non-cash donations, even if they are not part of a tax shelter donation arrangement.

For more information visit the Tax Tips website

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