BU357 Lecture Notes - Lecture 3: Tax Evasion, Final Good, Reverse Onus
Document Summary
So world wide income (div. a) + net taxable capital gains (div. b) - general deductions not already subtracted above (div. c) negative amounts on losses from non-capital (business, property etc. Div d. ) if these exceed income earned from other sources, they trace back = division b income or income for tax purposes. If has a business and a job, must deduct business expenses from business income etc. Onus of proof: taxpayer has burden of proof. Doesn"t need to be beyond reasonable doubt like criminal court but rather balance of probabilities is fine. When assessing penalties burden of proof shifts to minister and doesn"t again need to be beyond reasonable doubt. If not resolved move on to tax court 90 days after. Cra final decisions appealing that leads you to informal or general procedure. Informal (when amount of federal tax/ penalties is < 25,000 or amount of losses is < 50,000.
