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Blogs posted during June 2013

Does the CRA Actually Prosecute People for Tax Evasion?

People often ask “does the CRA actually prosecute people for tax evasion.” Scarily, it happens all the time and convictions are actually posted on the CRA website. Here is a great example of a man who owned a viable business and let his tax problem get out of control, resulting…

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Be Careful Who You Hire to Deal with Your Tax Problem

In March of 2013 the CRA reported on their website that a Brampton tax preparer who they had prosecuted was sentenced to house arrest for a tax fraud scheme. From 2005 to 2010, Adegboyega Adenekanad Adebukunola (whom we will refer to in the rest of this blog as AAA) operated…

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The CRA Financial Disclosure Form – An Invitation From Your Enemy to Shoot Holes in Your Own Feet.

The CRA financial disclosure form is a dangerous form that the CRA routinely sends out. If one is provided to you by the CRA, it might be time to acknowledge that they are getting ready to take collection action against you (if they haven’t already). The CRA financial disclosure form…

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CRA Can Make You Pay Another Person’s Taxes! Say Hello to Section 160 of the Canadian Income Tax Act

Hopefully as a spouse, family, friend or business associate you never get a letter that goes like this: “Dear Mr./Ms. “X”, you received an asset from a taxpayer who knew or ought to have known he/she owed money at the time you paid less than full market value for the…

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