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Tuesday's Tax Tidbits- Latest Income Tax Info (New money saving Income tax tips every Tuesday) - May 07, 2013
Gross Negligence Penalties for Unreported Income
The Tax Court of Canada has stated that gross negligence penalties cannot be imposed just because the amount of taxes is large. In the decision of THANGAVADIVELU MURUGESU v. HMQ (TCC) 2006-3767(IT)G Justice D'Arcy stated, in respect of CRA’s evidence that “it appears to me that she based her decision to levy the gross negligence penalties primarily on the magnitude of the unreported income. This in my view is not a sufficient fact, in and of itself, to justify the imposition of the gross negligence penalties.”
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