Rules would help CRA identify instances of aggressive tax planning
Groups operated to promote tax-shelter arrangements, agency alleges
The CRA’s two recent campaigns are part of a larger pattern of the agency becoming much more active in applying tax laws
Dozens of audits involving tax preparers and promoters are underway
Simplified rules intended to better target aggressive offshore tax planning schemes
Audits at RBC DS highlight the importance for advisors to exercise caution when assisting clients with complex tax planning
CRA conducting audits involving advisors at the firm
Money sitting in undeclared offshore accounts is estimated to be in the trillions
Measures include bigger penalties
Agreement with the Netherlands will help authorities combat tax evasion