MARCH 14, 2016
Almost as soon as CRA issued the long delayed assessments and refunds for 2013 (see below from January 6th) there are confirmed reports that they have purportedly completed their audit and are sending their (as expected and usual) position papers that will act as justification for reassessments without benefit of the charitable donations.
Same old same old... file the Notice of Objection and wait for a decision perhaps years down the line? Not necessarily, for the following reason:
Some years ago Parliament passed a bill which allows CRA to collect or hold up to half the credited/refunded amount beginning for the 2013 tax year. No one is quite sure how they will execute on this but safe to say one should not
expect to retain all of their just-received refund.
Question about CRA's always questionable tactics...without GLGI having been around over the past year plus, how is it possible CRA completed a legitimate audit of the program and now suddenly they issue their position paper and soon reassessments? Not sure about anyone else but we'd like evidence that theirs was not a 'sham' audit. Just thinking out loud.