28 November 2010 CTF Annual Roundtable Q. 4, 2010-0386341C6 - CTF Q#4: Penalties for Late-Filed T2 returns -- summary under Subsection 162(7)

CRA stated that it was never its:

practice to apply subsection 162(7) penalties on resident corporations that are late in filing their returns because there is nil taxable income or a loss for tax purposes. Although the FCA decision in Exida.Com stands, there are no plans to change our practice in this regard.

Topics and taglines
Topic
Income Tax Act - s. 162(7)
Tagline
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
324105
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
342880
Extra import data
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