May 10, 2016
2012 GLGI Donors Need to Take Action to Receive Refunds
Most 2012 GLGI donors had pretty much given up hope of receiving their rightful refunds after 2+ years of CRA illegally delaying assessments and then nearly another year of them road blocking refunds.
Recently we have become aware of several donors who HAVE received full refunds plus almost 3 years interest. Why them, why now and, possibly, why not you?
As communicated more than a few times there is a DEFINITE PROCESS to follow in all matters CRA. Because CRA lost 2 federal court decisions and an Appeal Court decision on it's battle to deter participation in tax shelters, the speculation is that they are now compelled to comply with the rules.
But the process donors need follow is clear. If you click on the links below, the documents will download so you can review and print, if necessary.
1) File a Notice of Objection to the assessment within 90 days of the
mailing date (or up to 1 year with an extension request).
2) After at least 120 days since receiving confirmation that the NOO is
accepted, file a Refund Request.
If you want to determine the status of your 2012 appeal and refund request call General Enquiries at 1-800-959-8281.
Estimates are that perhaps fewer than 75% of participants filed an NOO and only about 10% of those filed a refund request.
It's your money and your choice... you can allow CRA to continue on the course it had illegally set to deter participation, or you can choose to retrieve your tax credits.
After that, at some point if it's necessary to fight to keep it... well that will be another matter. Once CRA has your money, however, your negotiation powers are pretty much out the window.
And that's the process!