The CBAA on your behalf is working on a file with the CRA. It has the potential to dramatically impact our sector. (Specifically the tax assessment for the use of your BA aircraft is under review)
The following link is a summary of the CRA's verbal presentation made to the CBAA on August 3rd.
http://www.cbaa-acaa.ca/CBAADocs/Summar ... Canada.pdf
WHAT YOU NEED TO KNOW
-The information is based on a verbal representation made by CRA. Nothing was presented to us in writing nor is this a reflection of the CBAA's position.
-The information we are sharing is a general discussion only and is not legal advice in respect of any particular set of facts;
-CRA has proposed three categories in its administrative policy; two categories in which the person receiving the personal benefit DOES NOT control access and use of the aircraft for personal use and the third category, in which the person receiving the personal benefit DOES control access and use of the aircraft for personal use;
-CRA has not yet provided formal definitions for key terms, including “control of access and use”
- We have succeeded in having CRA extend the deadline for comments to the end of the month – preferably on or before August 28th.
- Your comments are critical! We need to address your concerns and provide detailed recommendations to the CRA before they finalize their policy.
- The CBAA will create a de-identified comments file that will be shared with the CRA before a face-to-face meeting that will occur during the first week of September.
Please circulate the link above with your FlightOps leadership teams and or Finance Professionals at the company.