If you disagree with the way the taxman has assessed your return, you have the right to formally object to your assessment and, ultimately, if it remains unresolved through communication with the Canada Revenue Agency, you have the right to your proverbial day in court. But, as you are no doubt aware, going to court can be expensive, the cost often dependent on the complexity of your case and the route taken in court.
But the costs can quickly add up no matter which route you take. There are the out-of-pocket costs of hiring legal counsel or, the cost of your own time if you decide to represent yourself. If you’re ultimately successful in court, you can be awarded costs, the amount being often significantly less than what you’ve spent on a lawyer or the perceived value of your time.
The taxpayer’s troubles began in 2006, when he made an RRSP contribution of $43,000, which was significantly more than his RRSP deduction limit of about $2,700. This resulted in a significant RRSP overcontribution, which began to attract an overcontribution penalty tax of one per cent per month. But the court in March 2019 ruled in the taxpayer’s favour and allowed his RRSP deductions. The court also awarded costs of $1,000 against the CRA, finding that “it had not articulated a proper legal position and that, more importantly, it had failed to provide an accurate accounting of the RRSP contributions over time, despite the court’s request.”
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