Before I Make My Profitable Gift, I hereby attest to the following conditions:
1. I understand that the loan I am taking out with Justice Trading Ltd is a full recourse loan and I fully intend to settle my debt with them before or when the term is up.
2. I do understand that the CRA will most likely audit the Propostion Life program to ensure compliance and will likely issue a reassessment for my donation tax credits, potentially without finding a compliance issue.
3. Because of 2. above, I agree to join with Profitable Giving Canada (PGC) as a program subscriber for the Proposition Life program and make a financial contribution. I trust PGC to provide assistance and defence from any CRA actions that might jeopardize my Profitable Gift.
4. I understand that if the CRA issues a reassessment, and I file a Notice of Objection, that process will classify the tax as"in dispute" For years subsequent to 2013, the CRA has the right to collect 50% of the tax in dispute until such time as thedispute is settled.