A Canadian-controlled private corporation filed its tax return for its year ended December 31, 2021 on June

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A Canadian-controlled private corporation filed its tax return for its year ended December 31, 2021 on June 30, 2022. The Notice of Assessment was received August 31, 2022. The date issued on the Notice of Assessment was August 28, 2022.

(a) Assuming there were no misrepresentations and that a waiver was not filed, how long does CRA have to issue a reassessment for 2021?

(b) If the corporation wishes to object to the original Notice of Assessment for 2021, by what date must the Notice of Objection be filed?

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Canadian Income Taxation 2022/2023

ISBN: 9781260881202

25th Edition

Authors: William Buckwold, Joan Kitunen, Matthew Roman

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Question Posted: Apr 06, 2023 04:26 AM

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A Canadian-controlled private corporation filed its tax return for its year ended December 31, 2021 on June

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a The CRA has until August 28 2025 being three years from the date is...View the full answer

Canadian Income Taxation 2022/2023

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