CRA T4015

February 18, 2017

Deeming Allows SIN Bait-and-Switch by Financial Institutions

Summary CRA’s Information Circular (“IC”) 82-2R2 promotes bait-and-switch using your SIN. This results in financial institutions issuing CRA T5 information returns (slips) that deem your account income as Canada’s public money. This usually results in you owing income tax. Intent of CRA Information Circulars CRA’s IC70-1 is titled, ANNOUNCEMENT – […]