The taxpayer relief provisions in the Income Tax Act limit the discretion of the Minister of National Revenue to:
- Cancel or waive penalties and interest when taxpayers are unable to meet their tax obligations due to circumstances beyond their control
- Accept certain late-filed, amended, or revoked income tax elections
- Issue income tax refunds beyond the normal three-year period (for individuals and testamentary trusts only).
These provisions only apply to tax years that ended within the 10 calendar years immediately preceding the calendar year in which a request is made.
The taxpayer relief provisions of the Excise Tax Act limit the Minister's discretion to cancel or waive interest and certain penalties. This limit applies to reporting periods that ended within the last 10 calendar years preceding the year in which a request is made.
The CRA advises that taxpayers involved in a tax process with the CRA (e.g., an audit, objection or appeal) for the 2002 tax year or a reporting period that ended in 2002 and who are unsure whether they need relief should make a request before the deadline. Any unavailable request-related information can be sent later.
For more information, contact your KPMG adviser.
Information is current to December 4, 2012. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG’s National Tax Centre at 416.777.8500.