Taxpayer access to GAAR Committee | Faye Kravetz

By Faye Kravetz (November 1, 2022, 2:48 PM EDT) -- The general anti-avoidance rule, or the “GAAR,” was introduced in 1988 and has been hotly debated in professional tax circles ever since. The GAAR provides legislative authority to the Canada Revenue Agency (CRA) to reassess for tax planning that meets the letter of the law but abuses its purpose. A transaction can, depending on how it is structured, seemingly follow the requirements of tax legislation as written but still be reassessed on the basis that it is abusive to the spirit of the law....

Related Sections