Post by
ManitokFT on Jan 15, 2022 11:56am
CRA Flow-Through Share Reassessment
I received a letter from Canada Revenue Agency this week stating that some flow-through shares that I purchased in Manitok in 2015 have been disallowed. 100% of the CEE expense was disallowed, which of course causes some significant pain with respect to taxes owed and years of interest.
I have some fundamental concerns with the position CRA has taken. Not the least of which is: Who at Manitok could defend the flow-through audit? They are in receivership, and I doubt the receiver has the knowledge or wherewithal to defend. The CRA's position seems egregious.
Anybody else in the same position? I would like to challenge the reassessment and I expect there are a lot of us in the same boat.
I can be reached at ManitokFT@gmail.com