The Department of Justice recently conducted a consultation to obtain feedback on proposed increases to the monetary thresholds for the informal procedure at the Tax Court of Canada. The proposal would raise the threshold to $50,000 in aggregate for all amounts in issue per year or $100,000 for the amount of a loss in issue for appeals filed under the Income Tax Act, and to $100,000 for amounts in issue under Part IX of the Excise Tax Act (GST/HST).
The Joint Committee on Taxation has submitted comments in response to this consultation. Please see the attached submission.
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Ryan Minor
Chartered Professional Accountants of Canada
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