Questions and Canada Revenue Agency Responses

This article is a summary of a CRA round table discussion held at the 2009 British Columbia Canadian Tax Foundation Conference in Vancouver, British Columbia. The round table provides practitioners and CRA officials an opportunity to discuss CRA policies on matters that regularly arise in daily practice. In 2009 the CRA commented on valuing private corporation shares, the internal reorganization of the CRA, the developments in the Voluntary Disclosure Program the value of the Tax Ombudsman’s office, obtaining Clearance Certificates for foreign property, the CRA’s assessment practice with respect to gross negligence penalties, and document retention at the end of audits.