The Tax Myths are:
- You can withdraw funds from a self-directed RRSP tax free.
- Some individuals claim to be exempt from paying HST/GST and have a card to “prove” it.
- The Income Tax Act is unconstitutional and the CRA cannot enforce it.
- The CRA performs “e-audits” using email.
- Winners of lotteries and sweepstakes must pay fees and taxes to CRA before claiming their prize.