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Blogs posted during July 2016

Tax Havens Are No Longer Safe: What the Panama Papers Mean for You

Back in April, the Panama-based law firm Mossack Fonseca became implicated in a global tax sheltering scheme when documents were leaked implicating a collection of world leaders and their associates in the use of offshore tax havens and other tax dodging schemes. Since this time, countries across the globe have…

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CRA Cracks Down on Tax Evasion with the Informant Leads Program

There has been a great deal of discussion over the last few months surrounding the government’s commitment to cracking down on tax evasion and their efforts through the Informant Leads Program. Tax evasion is a crime in Canada, one prosecuted often and carrying hefty monetary fines and sometimes even jail…

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In the News: Tax Trouble for Ontario Pharmacies

A recent federal investigation of Canadian retail pharmacists who received incentives from generic drug firms looking for shelf space has uncovered more than 1,000 who failed to declare and pay the taxes due on $58 million in rebates and incentives, leading to penalties for significant number. An article from CBC…

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Afraid of the Offshore Tax Informant Program? Voluntary Disclosures Program Can Help

We’ve spoken about it before: the Offshore Tax Informant Program, also known as the CRA Snitch Line. This program is one that often rewards those individuals who bring information to the CRA which results in the discovery of questionable tax activity, namely offshore holdings which are unreported. With an increase…

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