Tuesday, March 12, 2013

Canada Revenue Agency and Conrad Black battle over $5 million


Conrad Black is locking horns with the Canada Revenue Agency over taxes from 2002 that may see him paying taxes on more than $5 million in income and benefits.
Among the litany of items the CRA is trying to collect on is a $90,000 bill for security at his Toronto home and $1.3 million in benefits from the use of a company airplane.
The agency alleges Black held Canadian residency at this time and must pay taxes, including those applicable to taxable employment benefits such as the private jet. At the time, he filed as a U.K. resident, which his lawyers maintain was the true case.

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