You are ultimately responsible for whatever you present to the CRA, whether your knowledge is or is not correct. The following are some of the "Tax Myths" as released by the CRA recently
- Some individuals claim they have not filed a tax return for several years because the Income Tax Act is unconstitutional and the CRA is not capable of enforcing it
- Some individuals claim to be exempt from paying GST or HST, and have a "card" to prove this claim
- The CRA uses email to conduct "e-audits"
- Winners of sweepstakes and lotteries have to pay fees and taxes to the CRA before claiming their prize
- You can withdraw funds from a self-directed RRSP on a tax free basis
Be wary of these and other claims not supported by law. By simply accepting them as fact could have legal implications for you. To double-check on the validity of certain claims, simply call CRA at 1-800-959-8281 (personal enquiries) or 1-800-959-5525 (business enquiries)
Still not sure? Check www.cra-arc.gc.ca |
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