Canada Revenue Agency releases electronic mailing list for notifiable transactions

The CRA recently released an electronic mailing list primarily to notify subscribers when a new notifiable transaction has been designated by the Minister of National Revenue. The subscription webpage also indicates that subscribers to the electronic mailing list may also receive other updates relating to the mandatory disclosure rules.

As discussed in our recent blog post, the new notifiable transaction regime became law on June 22, 2023. Those rules require enhanced reporting for transactions or series of transactions that are designated as “notifiable” or “substantially similar” to a designated notifiable transaction. To date, no transactions or series of transactions have been officially designated as “notifiable” by the Minister; however, the creation of this mailing list may be an indication that such designations are forthcoming in the near future.

Prepared by: Jonathan Longcroft

Jonathan is an associate at the firm’s Vancouver office. Jonathan is developing a varied tax law practice with an emphasis on corporate tax planning. Prior to joining Thorsteinssons, Jonathan worked at an international investment bank in New York where he… more »