Fight Aids, Save Taxes

[Savard]

QUOTE (monalisa21 @ Nov 29 2010, 05:58 PM) Tax fraud....if you are able to prove this is tax fraud (if the program is non compliant in your opinion) you should contact MissionLife. They will give you 10,000 to prove it. Apparently they`ve had 40 some people try unsuccessfully. I ask you, if tax shelters are defined in the Income Tax Act of Canada (as are RRSPs and other tax strategies) and one follows all the rules that are written in black and white..how is that fraud?
Mitigating circumstances can allow Revenue Canada to go back as far as they wish. When fraud is involved, yes. But what is fraudulent about a charitable gift. Where 100% of medical units donated arrive to the intended targets.
for everybody in this post, make sure what you read is backed by fact. Not emotion or thoughts. We have a rule book (ITA) that has printed in black and white the rules a tax shelter we must follow. Look it up, find out how the program works and check the list! Then make a decision.


The CRA is one of the most powerful, faceless entities in Canada. They will go back as far as they choose to with their own justification. This justification may be valid than you owe, if you think it is not valid than you pay to defend your self. The CRA will deem these tax scams to be fraud and than you have to defend your self or pay. This costs your own real money and brain damage and stress on your family. You may win. I`d bet, one will successfully defend oneself vs. the CRA but at what cost? Why would one try to skim some money from the CRA when it will cost you so much to do so? The CRA will deem that you owe x amount. The interest will accumlate during the YEARS it takes to defend yourself. You may choose to pay the penalty to stop the interest and you will get the money back when/if you successfully defend your self. You legal bills and accounting bills will be in the thousands of dollars of your own after tax money --

Imagine that I have an idea to pick up garbage on Tony Soprano`s territory. I can make us a large amount of money. Of course I say it is legal. But, but why would one take from Soprano when I know how to make money in many easier fashions. The only people who make money in these scams are the sales people/promoters.
REIN is a great organization that help teach people how to make money for their family in a long term and sustainable way. Not a get rich quick scam that feeds on a person`s greed.
Please read Barry McGuire`s blog before you "donate" based solely on greed to pay less tax. http://www.barrymcguire.ca/investor-tools/blog.html

If you are supporting a tax scheme please disclose your gain for supporting these charitable schemes.

 

[4doubledutch]

I suspect you`ll have less credibility here after joining, and immediately posting a defense of a company involved in a giving tax scheme. The CRA is pretty specific that you can only get a receipt for the amount you`re giving in $, and can`t write it up to the "retail" or other "value" of the item being donated.

Do you have any affiliation with MissionLife? If so, you should have disclosed it.

Michael

 

[4doubledutch]

Appeals Court of Canada decision released on Oct. 28, 2010. This upheld an earlier decision by the Tax Court of Canada, totally denying any tax break for Mr. Max Marechaux -- who put up $30,000 of cash into a donation scheme and claimed a $100,000 donation receipt.
http://www.winnipegfreepress.com/business/...-106750638.html

 

[4doubledutch]

Appeals Court of Canada decision released on Oct. 28, 2010. This upheld an earlier decision by the Tax Court of Canada, totally denying any tax break for Mr. Max Marechaux -- who put up $30,000 of cash into a donation scheme and claimed a $100,000 donation receipt.
http://www.winnipegfreepress.com/business/...-106750638.html

 

[4doubledutch]

Hi Icecubes,

I am quite confused on why you think you have to pay back the reassessment amount. The CRA may ask for it back, doesn`t mean they have any legal right of any kind to collect it. People get reassessed all the time regarding tax filings. Most people don`t understand how the CRA works, nor what actual authority they have. A reassessment from the CRA is more like an opinion. In the opinion of the CRA you owe them this much. Doesn`t mean they have any legal right to collect it from you.

The only person who has the legal right to collect anything from you, is a Judge. You simply have to follow the Income Tax Act and it is quite easy to fight the CRA. With the reassessment you should of submitted a denial form to the CRA within 30 days. This would simply tell them you deny their claim. From there it goes to appeals, which you can deny again if it is not in your favour. From there it has to go to a Tax Judge. Regardless, the CRA cannot audit you, they can only audit the tax shelter as a whole.

I am sad to hear the CRA scare tactics worked on your family, and you lost all the money. The CRA does not have authority to collect that from you. My Grandpa worked in the CRA for many years, which is where I get most my information.

Most people don`t realize that Tax Shelters ARE LEGAL. They are written IN THE TAX ACT. The key is finding a Tax Shelter that is compliant with the Income Tax Act. From the research I`ve done, Fight Aids Save Taxes works through Mission Life. Mission life Tax Shelters appears to be 100% compliant with the income tax act.

Also those who are concerned about interest charges and penalties, go look up old court cases with Public Tax Shelters. The CRA can only charge interest on a "reasonable amount of time", says it right inside the Income Tax Act. So people who think they are going to get back charged interest for 5 years, are just plain wrong. In most cases that make it before a Tax Judge, there are no interest or penalties ever chargesd

From reading these forums, I can see what my Grandpa means by saying "The CRA has the best scare tactics, and can usually scare people out of their rights".

If anyone has questions, I can try and answer them, or send them to my Grandpa who worked for the CRA until he retired.