TAXPAYER LOSES IN COURT TO CRA's FAIR
MARKET VALUE CHALLENGE
Since your participation in either the CLI
(Canadian Literacy Initiatives) or ICC (Initiatives Canada Corporation) Gift in
Kind Donation Programs you should be aware that the courts in 2004 & 2005
have ruled in favour of a CRA fair market value challenge and against the
taxpayer. As well, CRA is aggressively attacking all Tax Donation Programs.
RECENT COURT RULINGS
- Nash Quinn & Tolley v. Queen - Taxpayer
Loses in Federal Court of Appeal
- Klotz v. Queen - Taxpayer Loses in Federal
Court of Appeal
TAXPAYERS HAVE TO PAY BACK ADDITIONAL TAXES AND
INTEREST TO CRA
Updates
- Initial Call for Capital
- Defence Fund
- Current Status
- Amendments to the Warranty
- CRA is aggressively attacking all Tax Donation
Programs
- What Do I Do When I Get the Following Letters From
CRA?
- (Questionnaires / Proposals / Reassessments /
Settlement Letters)
- Will This Be Reassessed?
- Will This Go To Court?
- Will The Defenses Fund Be Enough?
WARRANTY PROGRAM
- A Warranty Program has been implemented for all
Participants of the CLI / ICC Donation Program for 2001, 2002 & 2003
To help you eliminate the potential financial hardship
that a successful fair market value challenge by CRA would cause you and your
family, ICC and CLI are excited and pleased to announce the availability of a
Fair Market Value Warranty Protection Program. This Warranty Protection Program
covers all the property donated to the All Saints Greek Orthodox Church through
the ICC or CLI Donation Programs for the years 2001, 2002 &
2003
By becoming a participant in the Warranty Protection Program
being offered,
- You will not have to pay any additional taxes,
penalties and interest as a result of a reassessment based on a fair market
value challenge by CRA.
- You will never have to be called upon to give more
money towards the defense fund.
TAKE ADVANTAGE OF A RETROACTIVE WARRANTY PROGRAM
TO HELP OFFSET POTENTIAL LOSSES TO CRA