Taxpayers who come clean about taxes they have evaded can have penalties reduced under the voluntary disclosure program. The government wants to make the program less generous
The Canada Revenue Agency recently decided to defer application of the “advantage rules” by one year
The two sets of proposals concern changes to GST/HST rules and income tax legislation
IIAC lauds decision to give its members more time to review, consult on the changes
Finance Canada releases paper that addresses the use of tax planning with private corporations
Although clients can take the CRA to the Tax Court of Canada, they need to be aware of the public exposure that may come their way
The federal government has accepted nine recommendations included in a report from last autumn aimed at speeding up the process of resolving objections
The calculation was based on estimates of taxes that were assessed but not collected and on unreported income from the underground economy
Advisors can often play an important role in helping to provide clients under audit with any missing information about their investment tax reporting
Records must show “business-like endeavour”