and Revenue Administration
Corporate Tax Act
Special Notice Vol. 5 No. 34
||November 25, 2010
||Alberta Treasury Board and Finance, Tax and
|For more information:
5 No. 34 /November 2010
SPECIAL NOTICE - REASSESSMENT OF ALBERTA OBJECTIONS WITH UNRESOLVED MATTERS
NOTE: This special notice is intended to explain legislation and provide specific information. Every effort has been made to ensure the contents are accurate. However, if a discrepancy should occur in interpretation between this special notice and governing legislation, the legislation takes precedence.
Under the Alberta Corporate Tax Act, any reassessment issued after an Alberta objection is filed nullifies the objection filed for that taxation year. This can occur when a reassessment is issued as a result of paralleling adjustments made by other jurisdictions, loss carry-back or other taxpayer-requested adjustments when the matters under Alberta objection are not yet resolved.
To prevent unnecessary nullifications of Alberta objections, effective immediately Tax and Revenue Administration (TRA) will hold all adjustments and process one reassessment when all matters under objection are resolved. An exception to this practice will be when the adjustments are going to be statute-barred.
Therefore, loss carry-back and most taxpayer-requested adjustments will be held and processed after the Alberta objection is resolved. With the consent of the taxpayer, TRA will process those adjustment requests received before the year is statute-barred even after the statute-barred period is passed.