Each year I help over 500 clients file their Canadian and US tax returns as well as plan for both their Canadian and US investment accounts. I also regularly help new US clients plan for their move to Canada.
The CRA has revoked the Canadian Lacrosse Association as a registered Canadian amateur athletic association (RCAAA). RCAAA had the authority to issue donation receipts for income tax purposes but know they have been suspending by CRA.
For issuing more than $60.7 million in donation receipts for abusive transactions arising from its role as a participant in tax shelter arrangements that, in the opinion of the Minister, do not qualify as gifts, notice is hereby given, pursuant to paragraph 168(1)(d) of the Income Tax Act, that I propose to revoke the registration of the organization listed below. In accordance with subsection 168(2) of the Income Tax Act, the revocation of registration is effective on the date of publication of this notice.
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