CRA Compliance & Voluntary Disclosure
The Voluntary Disclosures Program (‘VDP”) gives you a second chance to change a tax return you previously filed or to file a return that you should have filed. You can apply to Canada Revenue Agency (“CRA”) to ask for relief from prosecution and penalties. The VDP allows taxpayers who are non-compliant with their taxes to become compliant without fear of prosecution or civil penalties.
The program is available to any taxpayer including:
• An employer
• A goods and services tax/harmonized sales tax (GST/HST) registrant/claimant
• A registered exporter of softwood lumber products
CRA is currently in the process of changing or limiting the VPD. Broadly speaking, the proposed amendments will change who gets to use the program, which disclosures they get to use it for and how much relief they will be entitled to if successful. The CRA is also proposing to make structural changes that will include establishing two tracks: the General Program and the Limited Program.
Contact us to discuss your options under the VPD.
CRA Compliance Issues and Request for Information
CRA employs a self-reporting system for income and other taxes. CRA can request additional information relating to the revenue, expenses and other amounts reported in an income tax or other return. CRA can perform an audit of certain information that was reported, or not reported, in an income tax or other return. We have extensive experience dealing with and responding to CRA’s requests.
Contact us to learn more about:
- Payroll audits
- Goods and Service Tax (“GST”) audits
- Requests for receipts and other information
- The Voluntary Disclosure Program
Every year, CRA selects a certain percentage of taxpayers to review the information or returns filed. This can result in a full audit, a payroll or GST audit, various compliance requests or a simple request for receipts and information for amounts reported on their tax returns.
We are versed in all compliance issues and can help you navigate the submitting of receipts and information.
Business Number, Payroll and GST Registration
Corporations, partnerships, individuals and sole practitioners could be required to apply for a business number, a payroll account, a GST number or any number of other accounts. We are well versed in the requirements of different entities and can help you to navigate CRA’s on-line registration process.