CBAA expects CRA to move quickly on BA tax policy following meeting with senior political staff
On February 8th 2018, the CBAA met with senior political staff in the Minister of National Revenue's office to discuss the forthcoming administrative policy in respect of the taxation of business aircraft in Canada.
The meeting was productive and cordial. We stressed the need for tax certainty and the negative effect a lack of tax certainty is having on the CBAA's members and the business aviation industry in Canada.
We also discussed certain technical issues that were identified in our September 5, 2017 letter to the CRA.
Finally, we stressed that many of the CBAA members have filed their tax returns in good faith on the basis of the former administrative policy cancelled on September 30, 2012. We requested that the CRA apply that prior administrative policy (found in IT160R3) to the date of the implementation of the new administrative policy in the coming weeks.
We expect that the CRA will now move quickly and issue written guidance in respect of this matter within the next few weeks. We will provide you with an update as soon as we have further information.
In the meantime, if you have any questions please direct them to Rudy Toering at email@example.com or (613) 236-5611 ext 238.