CRA is rotten to the core-Time to Clean House Another great article at ipolitics https://t.co/NqtQczJZQo #cdnpoli #cra Pls RT
— Patricia Moon (@nobledreamer16) March 17, 2016
The CRA is rotten to the core. Time to Clean House. by Alan Freeman Posted on March 16, 2016
A section just on us:
This week, we learned that the CRA turned over 155,000 banking records to the U.S. Internal Revenue Service in the middle of last year’s federal election — without waiting for the outcome of a court challenge to this unprecedented sharing of taxpayer data, without hearing an opinion from the Privacy Commissioner. And the individuals involved have never been informed by the CRA of its action.
The FATCA IGA allows the CRA unprecedented access to Canadian’s banking information – without a court order. The CRA has indicated that they will use this information for its own purposes.
“[Professor Allison] Christians says the information sharing deal also gives the CRA access to banking information on Canadians that it would not normally be able to access without a court order.
“The CRA, for example, could not require blanket information requests from Canadian banks on Canadians under the Income Tax Act, it could not do that without the involvement of a judge. But that is exactly what FATCA requires and so the CRA is now, very quietly, collecting a lot of information that under the Income Tax Act would not have been possible on Canadians.”
Christians said adopting the OECD’s criteria of residency rather than citizenship and refusing to send the IRS information on anyone living in Canada would drastically reduce the information on Canadian residents being sent to the IRS.”
http://ipolitics.ca/2016/03/17/trudeau-liberals-reverse-position-on-controversial-irs-information-sharing-deal/