It’s not unusual for a taxpayer to disagree with the Canada Revenue Agency’s assessment of his or her tax return. When that happens, the first step is to get in touch with the CRA to determine just where the disagreement lies and whether it can be resolved.
Now that taxpayers have been able to save through TFSAs for nearly 6 years, the total amount of possible contributions (as much as $31,000, for someone who has never made a TFSA contribution) is becoming significant, as is the complexity of tracking contributions, withdrawals, and re-contributions made over the past several years.
It’s apparent from even a brief summary that determining when a charity has engaged in political activity which must be reported can be a very subjective exercise, and the consequences of making the wrong call can be significant. Recognizing that fact, the CRA has created a number of on-line resources to assist charities in making that determination.