www.carters.ca
www.charitylaw.ca
4.Robinson v. Rochester
Financial Limited, 2012 ONSC 911 (CanLII) (February
7, 2012)
•Ontario Superior court approved
an $11 million settlement of the class action relating to the
“Banyan Tree” tax shelter
•Small donations by donors were
purportedly increased through a “loan” to donors
•CRA disallowed donors’ tax
credits because the “donations” were not gifts
•The defendant was a law firm
which provided a legal opinion that the tax shelter complied
with applicable tax legislation and that the tax receipts issued by
the tax shelter should be recognized by CRA
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