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Trust your instincts.
December 4, 2025

CRA is in the process of denying tax shelter gifting arrangement donations. Numbers they say are up to $2.5 Billion.

This link explains what a tax shelter gifting arrangement is about and provides names and examples:

http://www.cra-arc.gc.ca/nwsrm/lrts/2008/l081204-eng.html

If it sounds too good to be true, it probably is too good to be true. Even worse, you could find yourself being prosecuted for a criminal offense.

If you have claimed under such a scheme, or know that your tax disclosure is not complete, you may want to go to CRA under the Voluntary Disclosure program before they come to you. Why? Penalties and criminal prosecution can be avoided by voluntary disclosure.

If you meet the test for voluntarily disclose, penalties and criminal prosecution are not applicable.

Find out more about Voluntary Disclosures here:
http://www.cra-arc.gc.ca/gncy/nvstgtns/vdp-eng.html

 

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