2 h. ago
Company audited for tax schemes sues Canada Revenue Agency for $100 million
A $100-million lawsuit has just been launched against the Canada Revenue Agency (CRA) by a company audited for what the agency calls "tax shelter gifting schemes."On Friday, a statement of claim was filed at the Ontario Superior Court of Justice by Ken Gordon, founder of EquiGenesis Corporation, a service that helps high-net-worth investors with tax incentive investment opportunities.The lawsuit claims that Gordon's business has experienced over two decades of "harassment and abuse" by bureaucrats at the CRA focused on shutting it down and "punishing everyday taxpayers."Ken Gordon, founder of EquiGenesis Corporation (Equigenesis.com)According to the statement of claim, the "repeated harassment" began in 2003 when the CRA launched an audit on "gifting tax shelters," or what the agency calls "tax shelter gifting schemes."The government has issued warnings to Canadians about these schemes when a taxpayer is presented with a strategy where the tax benefits and deductions they can claim ...
Economics
