{"id":148,"date":"2012-10-15T17:20:33","date_gmt":"2012-10-15T17:20:33","guid":{"rendered":"https:\/\/thor.ca\/\/blog\/?p=148"},"modified":"2025-02-12T13:29:35","modified_gmt":"2025-02-12T21:29:35","slug":"cra-has-power-to-reassess-dissolved-ontario-company","status":"publish","type":"post","link":"https:\/\/www.thor.ca\/blog\/2012\/10\/cra-has-power-to-reassess-dissolved-ontario-company\/","title":{"rendered":"CRA has power to reassess dissolved Ontario company"},"content":{"rendered":"<p>In correspondence released October 10, 2012 (2012-0455781E5), the CRA said it has the power to reassess a dissolved Ontario company.\u00a0 This stems from s. 242(1)(b) of the <em>Business Corporations Act<\/em> (Ontario), which provides that a civil, criminal, or administrative action or proceeding may be brought against a corporation after its dissolution, as if the corporation had not been dissolved.\u00a0 Further, in <em>Dominion of Canada General Insurance Co. v. The Queen<\/em>, [1984] C.T.C. 190, the Federal Court Trial Division confirmed that the issuance of a notice of assessment is an \u201cadministrative action or proceeding\u201d.\u00a0 Any assessment of a dissolved company might then form the basis of a derivative assessing action under s. 159 or s. 160 of the <em>Income Tax Act<\/em> (Canada) (ITA).\u00a0 The CRA statements were made in connection with a third party\u2019s request for tax information relating to the dissolved company (a lender seeking information in support of a title insurance application).\u00a0 The CRA also confirmed that it could not release to the third party any tax information relating to the dissolved company, as a result of the confidentiality provisions of the ITA (s. 241).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In correspondence released October 10, 2012 (2012-0455781E5), the CRA said it has the power to reassess a dissolved Ontario company.\u00a0 This stems from s. 242(1)(b) of the <em>Business Corporations Act<\/em> (Ontario), which provides that a civil, criminal, or administrative action&hellip;<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-148","post","type-post","status-publish","format-standard","hentry","category-corporate-tax"],"_links":{"self":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/comments?post=148"}],"version-history":[{"count":1,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/148\/revisions"}],"predecessor-version":[{"id":2856,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/posts\/148\/revisions\/2856"}],"wp:attachment":[{"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/media?parent=148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/categories?post=148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thor.ca\/blog\/wp-json\/wp\/v2\/tags?post=148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}