January 12, 2010
CRA issues Tax Alert on Voluntary Disclosure Program - “Come to us, before we go to you”
Posted by .(JavaScript must be enabled to view this email address) on 01/12/2010 | comments (1) | permalink | forward to a friend
Posted under News | What's New from the Charities Directorate of CRA | Canadian Charity Law | Ethics and Canadian Charities | Avoiding 'Charity' Scams
Posted under News | What's New from the Charities Directorate of CRA | Canadian Charity Law | Ethics and Canadian Charities | Avoiding 'Charity' Scams
The CRA put out a Tax Alert today - they identified that in the last fiscal year (2008-2009) they had “reassessed over 20,000 individuals who had participated in at least 1 of 20 unacceptable tax shelter gifting arrangements.” Also they noted in the Tax Alert that when they prosecuted for fraud or tax evasion “Convictions were obtained in 98% of the cases prosecuted.” If you have been bamboozled by a charity gifting tax shelter promoter consider making a voluntary disclosure under the VDP.
