I wonder how large the Ockley's RRSP accounts are that could potentially result in tax penalty of this magnitude.
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“In the proposed reassessments, CRA was effectively objecting to the private mutual fund trust structure that saw monies paid into Ryan and Damon Ockley’s RRSPs,” the statement of claim says, “the overall effect… would be to impose tax amounting to over 150% of the actual income earned.”
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