“Tax reputation for high-profile individuals and corporations - being ‘legal’ is not enough”

A UK law firm Farrer & Co recently published an article entitled “Tax reputation for high-profile individuals and corporations - being ‘legal’ is not enough”.  Although it is a UK article it provides some important points for Canadians who are looking at schemes that are “too good to be true”.  I have blogged about what CRA terms “abusive charity gifting tax schemes” and other inappropriate schemes involving Canadian charities.  It is important that taxpayers not only consider the tremendous financial cost of investing in such schemes but also the reputational costs.