Practicing Safe Tax - Filmed in 2020
The following course shall go over some basic concepts on how to practice tax while minimizing the risk of liability.
The following concepts shall be discussed:
Properly drafting an engagement letter
Proper documentation of the source of origin of facts
Proper documentation of the source of the valuation
Role of closing agenda
Compliance, T5 and other instructions (banking) – who is responsible for implementing (Manu)
Elections- due dates, who is responsible for filing?
Tax Opinion (Manu)
Legal Review (Manu)
Knowing your role/limits
Making mistakes and remedy
- Discussing with client
- Dealing with penalties and potential remedy (CDA elections, T106s, etc.)
- VDP
- Recission and rectification
Managing CRA audit
Some common areas of difficulty:
Section 85
Section 84.1
Subsection 15(1)
Subsection 15(2)
Instructor
Manu Kakkar CPA, CA, TEP, MTAX
Manu has over 20 years of experience in taxation in both domestic and international, personal and corporate taxation as well as litigation support. He runs his own independent tax practice with offices in Montreal and Toronto, serving a diverse client base which includes manufacturing, retail and distribution, construction, farming, real estate, athletes and artists, across Canada and the US. His firm acts as a counsel to over 100 professional firms in Canada and USA specializing in domestic and international reorganizations and transactions. Manu is known as one of the leading experts in Section 55 of the Act and butterfly reorganizations.