CRA Update to CRA Tax Collections Information Circular IC98-1R6

CRA updated its tax collections information for taxpayers, IC98-1R6, which is the sixth revision of this Information Circular. The changes reflect the new rules for interest relief as a result of implementation of the Court of Appeal decision in Bozzer v. Canada (2011 FCA 186). Although the policies have not changed, it is helpful to remember the rules relating to payments of amounts or security that has been granted in respect of a tax assessment that is disputed with a Notice of Objection or an appeal to the Tax Court of Canada. If CRA Appeals has not confirmed or varied an income tax assessment within 120 days a Canadian tax lawyer can apply for the return of all amounts paid, or the release of any security provided for the tax in dispute.

CRA Update to CRA Tax Collections Information Circular IC98-1R6