February 28, 2007
Reminder of upcoming amendments to fairness provisions in
As a reminder to Canadians, the Canada Revenue Agency (CRA) has issued the following news release:
Ottawa, Ontario, February 28, 2007... The Canada Revenue Agency (CRA) reminds goods and services tax/harmonized sales tax (GST/HST) registrants that they have until March 31, 2007, to review their records and send in any requests for penalty and interest relief under the fairness provisions for a reporting period that ended on or before December 31, 1996.
Legislative changes to the fairness provisions in the Excise Tax Act (both for GST/HST and non-GST/HST purposes) were introduced in 2006. Starting April 1, 2007, the Minister's discretion to waive or cancel penalties and interest will be limited to requests for reporting periods that ended within any of the 10 calendar years preceding the calendar year in which the request is made.
For more information on this news release, please visit:
http://www.cra-arc.gc.ca/newsroom/releases/2007/feb/nr070228-e.html
Posted by Taxes.ca Editorial Team [permalink]
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