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Blogs posted during April 2016

Think Transferring Assets Will Help with a Tax Debt? Interpreting Section 160

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If you are dealing with the knowledge that a tax debt is hanging over your head, considering various options to deal with it, and thinking that perhaps transferring assets is a safe bet, you need to read on. Such action can leave the person you transfer assets to liable for…

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The Voluntary Disclosures Program: Does the CRA Grant Relief?

The Voluntary Disclosures Program is offered by the Canada Revenue Agency to those seeking relief from interest and penalties on a tax debt as yet unknown. It is a program which allows you, the taxpayer, to come forward and disclose information which would result in a debt, penalty and interest.…

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CRA Scams: Some Common Red Flags

Last July, the Canada Revenue Agency issued a press release urging Canadians to beware of an increase in CRA scams. Since this time, the CRA has continued to advise people to protect themselves against potential fraud. Over the last few years, the number of nefarious individuals attempting to trick hardworking…

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Panama Papers Leak – Mossack Fonseca Identified as Tax Haven for Wealthy

The largest data leak in journalistic history has revealed rare insights into how the rich and powerful use tax havens to hide their wealth. Dubbed the “Panama Papers”, these 11.5 million documents reveal how Mossack Fonseca, a secretive Panamanian law firm, has been helping wealthy clients hide income and assets,…

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In The Know: What is Directors’ Liability?

  There are a lot of questions regarding directors’ liability for tax obligations. Directors’ liability is the duties and responsibilities that a director of an organization is responsible for. In an organization, the directors are elected by voting shareholders to manage or supervise the business and the affairs of the…

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