ARTICLE · 07 DECEMBER 1998

Revenue Canada Comments On Tax Shelters

PwC Management Services LP

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Revenue: Canada Comments on Tax Shelters - PricewaterhouseCoopers LLP

This article outlines, from a taxation perspective, some of the possible risks and potential problems with tax shelters. The questions and answers are based on information recently issued by Revenue Canada and should give taxpayers a basic understanding of their interpretation of what a tax shelter is and what tax issues investors should watch for when considering investing in such a vehicle.

What is a Tax Shelter?

A tax shelter is defined in the Canadian Income Tax Act to be any property for which a promoter represents that an investor may claim deductions or receive benefits which equal or exceed the amount invested within four years of its purchase.

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