The Federal Court of Appeal (FCA) recently dismissed the Bank of Nova Scotia’s (BNS) appeal and upheld the Canada Revenue Agency’s (CRA) practice of charging arrears interest on a non-existent tax debt where audit adjustments...more
12/5/2024
/ Appellate Courts ,
Canada ,
Canada Revenue Agency (CRA) ,
Carryback Rules ,
Income Tax Act ,
Interest Rates ,
Supreme Court of Canada ,
Tax Court ,
Tax Debt ,
Tax Liability ,
Tax Policy ,
Taxable Income
In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback. ...more
11/5/2021
/ Arrearages ,
Back Taxes ,
Canada ,
Carryback Rules ,
Delinquency Status ,
Income Tax Act ,
Income Taxes ,
Interest Accrual ,
Reassessments ,
Tax Court ,
Tax Debt ,
Tax Liability ,
Tax Planning ,
Transfer Pricing