Has Revenue Canada Become Big Brother?
Article Abstract:
The Revenue Canada has a huge amount of power with few limitations. Taxpayer action appears to be divided into three categories: 1. tax evasion, 2. tax avoidance that is permissible and 3. tax avoidance that it believes should not be permissible. The tax assessors have the power to audit books and other documents, examine property, require owners or managers to give reasonable assistance and seize any documents as evidence when a violation is suspected. There appears to be two main limitations to this extensive power-solicitor-client privilege and the new protection against unreasonable search and seizure provided for in Section Eight of the Canadian Charter of Rights and Freedoms. Supreme Court cases have more clearly defined solicitor-client privilege protections. The accountant-client relationship has no special confidence when subpoenaed, except when it is within the solicitor-client privilege as in the case where the lawyer employs the accountant. Revenue Canada searches and seizes for tax information many more times than the Internal Revenue Service (IRS) in the United States or the Revenue in the United Kingdom, both of which have larger populations. Revenue Canada declares that tax planning should be arranging one's affairs 'openly', which calls into question the role of the taxpayer and advisors. When a tax avoidance plan is deemed faulty, what should determine whether a tax offense has been committed? There is little distinction between tax evasion and tax avoidance. To avoid problems, the tax planner might question herself as to what action she would take if Revenue Canada knew everything about the transaction that she knew.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1984
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Canada reclaims money from Cuba
Article Abstract:
Canda has reclaimed the more than $1 million outstanding payment for the sale of Canadian ships by Canadian National (West Indies) Steamship Ltd to a Cuban company in 1958. The money was tied up in New York when the US government froze all Cuban assets in 1963 and authorities ruled that there was Cuban interest in the funds. After more than two years of negotiations, Canadian National has recovered the funds, largely through the efforts of accountant Kenneth Morrison.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1992
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DuPont Canada proudly moves into first place
Article Abstract:
DuPont Canada Inc. has been awarded the top prize at Annual Report Awards sponsored by The Financial Post. DuPont was recognized for its 1993 annual report, which was cited by the judges for being readable, well-organized and informative, and was granted the Award of Excellence. Gold, silver and bronze awards were also given to companies with the best-prepared reports in 12 categories, while special awards were given out for environmental reporting.
Publication Name: CA Magazine
Subject: Business
ISSN: 0317-6878
Year: 1995
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