NEW! Update for 2001 - 2002 - 2003

IMPORTANT UPDATE IN REGARDS TO THE CLI & ICC DONORS CRA'S LAST VICTORY IN FEDERAL COURT AGAINST "THE ALL SAINTS GREEK ORTHODOX CHURCH "

On March 22, 2006 in the Federal Court, the court ordered the All Saints Greek Orthodox Church to furnish CRA (Canada Revenue Agency) with the list of the 2002 donors by March 27, 2006. CRA may then use, as of that date, the list to reassess donors.











TAXPAYER LOSES IN COURT TO CRA's FAIR MARKET VALUE CHALLENGE
Since your participation in either the CLI (Canadian Literacy Initiatives) or ICC (Initiatives Canada Corporation) Gift in Kind Donation Programs you should be aware that the courts in 2004 & 2005 have ruled in favour of a CRA fair market value challenge and against the taxpayer. As well, CRA is aggressively attacking all Tax Donation Programs.

RECENT COURT RULINGS

  • Nash Quinn & Tolley v. Queen - Taxpayer Loses in Federal Court of Appeal
  • Klotz v. Queen - Taxpayer Loses in Federal Court of Appeal

TAXPAYERS HAVE TO PAY BACK ADDITIONAL TAXES AND INTEREST TO CRA


Updates

  • Initial Call for Capital
  • Defence Fund
  • Current Status
  • Amendments to the Warranty
  • CRA is aggressively attacking all Tax Donation Programs
  • What Do I Do When I Get the Following Letters From CRA?
    • (Questionnaires / Proposals / Reassessments / Settlement Letters)
  • Will This Be Reassessed?
  • Will This Go To Court?
  • Will The Defenses Fund Be Enough?

WARRANTY PROGRAM

  • A Warranty Program has been implemented for all Participants of the CLI / ICC Donation Program for 2001, 2002 & 2003

To help you eliminate the potential financial hardship that a successful fair market value challenge by CRA would cause you and your family, ICC and CLI are excited and pleased to announce the availability of a Fair Market Value Warranty Protection Program. This Warranty Protection Program covers all the property donated to the All Saints Greek Orthodox Church through the ICC or CLI Donation Programs for the years 2001, 2002 & 2003

By becoming a participant in the Warranty Protection Program being offered,

  • You will not have to pay any additional taxes, penalties and interest as a result of a reassessment based on a fair market value challenge by CRA.
  • You will never have to be called upon to give more money towards the defense fund.


TAKE ADVANTAGE OF A RETROACTIVE WARRANTY PROGRAM TO HELP OFFSET POTENTIAL LOSSES TO CRA

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