22 May 2014 Ponoka Liason Meeting Roundtable, 2014-0528451C6 - Cost of Making Voluntary Disclosure -- summary under Paragraph 20(1)(cc)

This was a follow-up query on 2012-0437831E5, indicating that voluntary disclosure costs were not deductible, as they were neither incurred to earn income from business or property, nor in relation to an objection or appeal. After confirming this position, CRA stated:

However, where a taxpayer earns income from a business, the cost of making a voluntary disclosure relating to that business may be deductible as a cost of representation pursuant to paragraph 20(1)(cc).

Topics and taglines
Topic
Income Tax Act - s. 20(1)(cc)
Tagline
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
320430
d7 import status
Drupal 7 entity type
Node
Drupal 7 entity ID
343375
Extra import data
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