CRA- Employer Compliance Audit - Update
As you know, COTAPSA has been working with the City to resolve the matter of the CRA Audit. We have been successful in getting support from City Council.
COTAPSA is providing further information regarding the Employee Payment Program that was approved by City Council during its meeting on May 11/12. 2010.
City Council agreed to implement a program to pay, on employees’ behalf (including terminated/retired employees), the tax and interest payable for 2006 to 2010, inclusive.
This is as a result of CRA’s decision to assess parking access at the six (6) controlled lots (i.e. City Hall, Metro Hall, North York Civic Centre, Scarborough Civic Centre, East York Civic Centre and 111 Wellesley Street East) as a taxable benefit. In addition, the City will cover the initial additional income tax, based on your income level with the City of Toronto that will result from making this payment on behalf of employees.
The City will ONLY reimburse amounts associated with the parking reassessment.
The City will require additional information from the affected employees. In a few days, you will receive a letter from PPEB outlining the process. In addition, there will be information sessions to review the process, forms and consents necessary to participate in the program.
The information sessions will take place on:
- June 3 - 1:00 p.m. to 2:00 p.m. and 3:00 p.m. to 4:00 p.m.,
Metro Hall - Room 308/309 - June 4 - 9:00 a.m. to 10:00 a.m. and 2:00 p.m. to 3:00 p.m.,
City Hall - Council Chamber - June 7 - 9:00 a.m. to 10:00 a.m.,
North York Civic Centre, Council Chamber - June 7 – 2:00 p.m. to 3:00 p.m.,
Scarborough Civic Centre, Council Chamber
COTAPSA strongly encourages our Members to attend the information sessions.
In the event that you have paid the CRA, or that the CRA has deducted the tax and interest payable for 2006 and 2007 from your 2009 income tax refund, the City will pay you directly, upon proof that the payment or deduction has been made.
COTAPSA is receiving inquiries about the reassessments having to be paid by a certain due date or more interest will accrue. As stated in Bulletin #20-10, the City suggests that all affected Members not take any action until they receive the additional information from the City.
Again, further details of the Employee Payment Program will be mailed to you in a few days.
