I have been approached to sell this type of shelter numerous times. Honestly, you can write off anything...but one day you may have to justify those items which is where this gets ugly!
My understanding is that CRA is not particularly fond of these ways to contribute $1000 and get a deduction of $3000. (Some are higher than this!). When I say not fond, I really mean to say that this is not legal. I know that there are lawyers and accountants involved (allegedly) who say this is totally legal and the like, but do you really want to be the guy who has to fight this battle?
Just my thoughts on these things...you can reduce your taxes legitimately a number of different ways, and not have to fear that CRA is going to audit you!
|