Recent, similar challenges by the CRA lead to mixed results
Withholding regime now set to begin in 2014
Proposals could have significant impact on trust and estate practitioners and their clients
Transactions that bear two of three “hallmarks” will have to be reported under new regime
Tax agency keeps up the pressure
All accounts linked to Canadian taxpayers will be reviewed
CRA has list of 1,800 accounts at HSBC Private Bank in Geneva
Canada is working to increase the flow of information with tax havens through tax information exchange agreements
Quebec man’s schemes enabled 152 taxpayers to avoid reporting a total of $3,292,050
Don’t treat the process lightly, tax advisor says