Canada-Ontario Business Service Centre

Regulating Tax Rebate Discounting Businesses

Canada Revenue Agency (CRA)

Last Verified: 2004-11-09

Act: Tax Rebate Discounting Act, R.S.C. 1985, c. T-3
Regulation: Tax Rebate Discounting Regulations, SOR/86-108, as amended

To Whom Does This Apply?

Tax discounting industry, tax discounters' associations, and consumers.

Summary

The Tax Rebate Discounting Act regulates tax discounting businesses. The Act, administered by the Canada Revenue Agency (CRA), is designed to protect consumers who choose to use a discounting service to get cash now rather than wait for a future income tax refund.

As part of its responsibility to consumers, the CRA audits discounting records, and administers and enforces the Act to protect the rights and interests of individuals who use discounting services. The Tax Rebate Discounting Regulations govern the preparation of the financial statement of the discounting transaction and the notice of the actual amount of tax refunded to the discounter.

If you require personal assistance, visit the Tax Service Office closest to you (see Related Reading: Business Window - Supplement or CRA's Web site for a list of addresses).

DISCLAIMER
Information contained in this section is of a general nature only and is not intended to constitute advice for any specific fact situation. For particular questions, the users are invited to contact their lawyer. For additional information, see contact(s) listed below.

Ontario Contact(s):
See National Contact.

National Contact(s):
Ms. Brenda Poirier
Tax Filer Services Section
Tax Rebate Discounting Act
Canada Revenue Agency
5th floor, Tower C, Place Vanier
25 McArthur Road
Ottawa, Ontario K1A 0L8
Telephone: (613) 941-8864
Fax: (613) 941-8868
Toll-free (publications): 1-800-959-2221 (Forms and Publications)
Web site: http://www.cra.gc.ca/menu-e.html

Last Modified: 2004-11-29