Are you ready for the next interest rate increase? --- Bank of Canada’s latest indicator clinches it — interest rat… https://t.co/bC5ejEnsy0
Taxpayer Relief Measures for Canadians affected by the Lac-Megantic Disasterin Canadian Government News and Updates
The new Minister of National Revenue, Kerry-Lynne D. Findlay, has recently announced that taxpayers who have been affected by the disaster in Lac-Megantic will have access to the CRA`s taxpayer relief provisions if they are unable to meet their tax obligations.
In a statement, she said: "All Canadians are deeply saddened by the devastation and loss of life that has occurred in Lac-Mégantic. I know that they join me in extending deepest sympathies to those who have been affected by this terrible tragedy," said Minister Findlay. "Our Government understands that this situation may cause great difficulties for affected taxpayers whose primary concerns are their families, homes, and community. Our goal is to ease the burden that taxpayers, including business owners and the self-employed, could be experiencing relating to their filing and payment obligations, so that they can focus on what is important during this difficult time – rebuilding their lives."
The Minister of International Development, Christian Paradis, also released a statement: "Our community continues to suffer in the wake of this terrible tragedy. In order for the people of Lac-Mégantic to recover, they must be able to focus on their families, friends, and loved ones. It is of the utmost importance that the residents of our community be supported through every step of the recovery process. This announcement is a way of providing some peace of mind and to assure people that we will take the necessary steps to facilitate the process of healing, grieving, and rebuilding."
The CRA will consider requests for relief from taxpayers who are unable to meet their tax obligations due to the disaster in Lac-Megantic. The CRA will review these requests on a priority basis using a balanced approach to assist taxpayers in resolving tax issues that arise due to circumstances beyond their control. Under the taxpayer relief provisions, taxpayers can apply to the CRA to have interest or penalties waived or cancelled in situations where they are unable to file a tax return and or make payments on time because of a disaster. Taxpayers who wish to request for relief must submit Form RC4288, Request for Taxpayer Relief.
Businesses who were affected by the Lac-Megantic disaster can call 1-888-699-0735 extension 6312 for direct support in relation to taxpayer relief or any other federal tax obligation.
Source: CRA website, www.cra.gc.ca