Ashuthi Kanneganti

Charities often operate with tight budgets while delivering essential services. To support these vital organizations, the government offers a valuable relief option known as the Public Service Bodies' Rebate ("PSB"). This rebate helps charities recover a portion of the GST and federal part of the HST paid on eligible purchases.

Legal Consequences of Misrepresentations in Tax Matters Subsection 163(2) of the Income Tax Act (the “Act”) outlines the penalties that can be levied by the Minister for misrepresentations in tax matters. A statement is deemed false if the person making it knows it to be false or reasonably should know that it was false. Below, we detail the penalties, associated offences, and critical aspects of this subsection of the Act.

On May 6, 2024, the CRA released a circular that explains the requirement, as per the Excise Tax Act, that manufacturers of beer or malt liquor, wort, yeast or malt products provide financial security. Someone who manufactures beer or malt liquor, wort, yeast or malt products is required to provide financial security for each of their physical business locations. The reason why this requirement exists is to ensure that the manufacturer meets their obligations, including paying duties.