Category Archives: VDP

Unreported PayPal Business Income

  Recent news alerted all Canadian online business owners that their PayPal Business Accounts will be handed over to the CRA. This will have serious tax consequences if they have Unreported PayPal Business Income. This news is a result of the Canada Revenue Agency (CRA) moving forward to aggressively address non-compliance specifically unreported income or » Read More

How The VDP Canada Submission Works

Alternatively called Tax Amnesty or Tax pardon, the Voluntary Disclosures Program (VDP) belongs to the Canada Revenue Agency. The CRA uses the VDP Canada program to collect pending taxes from the taxpayers in a respectable manner.  Taxpayers are requested to step forward and correct their tax information and disclose new information they had previously withheld. » Read More

What VDP Canada Requires From Canadians

Do you know anything about the VDP Canada? The VDP or Voluntary Disclosures Program is managed by the Canada Revenue Agency. The program emphasizes compliance with the taxation laws followed in Canada. It is meant for businesses, individuals, employers, residents, non-residents and trusts. Through its VDP Canada program, the CRA motivates all the above mentioned » Read More

VDP Canada Program

Voluntary disclosure program in Canada (or in short or VDP Canada) is administered by the CRA. It allows taxpayers to revise or amend their previous tax filing returns while revealing fresh information to the CRA that was not provided earlier in their tax returns. The purpose of VDP Canada is to make the taxpayers come clean » Read More

The CRA Late Filing Penalty And Other Types of Penalties

The Canada Revenue Agency will not sympathize with you in every circumstance. If you have not filed your taxes returns for current year or previous years, for instance, the CRA demands to know why you have not. If your reasons are acceptable, the CRA might waive your penalty or interest amounts. It is not known » Read More

Voluntary Disclosure CRA Program – Who is Qualified?

Paying taxes is mandatory in Canada.  The Canada Revenue Agency expects that you will file your tax return on time. In addition, the CRA wants you to prepare your tax return professionally to avoid omissions or false statements. If you have undeclared income, or previously submitted tax returns that had errors, the CRA gives you » Read More

Undeclared income Must Be Reported In Canada

Unreported income is being fought hard by the Canada Revenue Agency (CRA). The CRA wants taxpayers to report all their income sources. It does not matter whether you earn all your money from within Canada, outside of Canada or just online. Anything that should be disclosed as income need to be reported truthfully. Although the » Read More

Taking Part In The Canadian Voluntary Disclosure Program

It is easy to make a mistake if you fill in your tax return without professional help. It could be that you misinterpret what needs to be done, or just don’t put the figures in the right place. In Canada, the Canadian Voluntary Disclosure Program allows residents to contact the CRA and let them know about incorrect » Read More

The Taxpayer and the Voluntary Disclosure

When a taxpayer feels that the filing of the tax return was not so accurate, there are bound to be fears concerning possibilities of a CRA audit and assessment. This will also be the case for those employers who have not remitted their Sales Taxes or their payroll deductions. It will be a nightmare of » Read More

CRA Voluntary Disclosure Helps to Waive Penalties

In case of unreported income or late filing taxes that relates old tax years problem. Taxpayers have the option to file voluntary disclosure, CRA could grant a complete waive of interests and sometimes a partial relief of interest. If taxpayer files an anonymous voluntary disclosure, the taxpayer has a period of ninety days from the » Read More

The Canadian Tax Amnesty Offered by the CRA

Many Canadian taxpayers have come clean with their concealed offshore bank accounts to the CRA as part of the Canadian government’s tax amnesty programs. It has allowed the Canadian Treasury to collect many Canadian Dollars in unpaid taxes. The voluntary disclosure programs or the tax amnesty programs are part of the comprehensive initiative to deter » Read More

A Roadmap to Voluntary Disclosure Program Canada

A voluntary disclosure could be made by any taxpayer in Canada. You can be an individual, a business enterprise or a trust. You can be a resident or a non-resident of Canada. You can be an employer or a payer. You are entitled even to appoint an authorized representative to file a disclosure on your » Read More

An Insight Into Voluntary Disclosure Program Canada

Canadian taxpayers with offshore assets and accounts are legally bound to reveal these interests to the Government on their Individual Tax Returns, and file a corresponding Form T1135, Report of Foreign Bank and Fiscal Accounts. If CRA agents discover that someone has not noted an interest in an offshore account or revenue accruing on such » Read More

Don’t Miss Out A VDP Toronto Opportunity

Providing Accurate Tax Information for VDP Toronto Stating the correct, accurate and right information in your tax returns is very important. The VDP (Voluntary Disclosures Program) allows one to correct any incomplete or inaccurate information. VDP Toronto also allows one to disclose any information which was not reported in any dealings with CRA (Canada Revenue » Read More

Need a Tax Amnesty Agent?

Need a tax amnesty agent? The perfect place for you to go is Tax 911 now if you are in the Toronto, York Region, Durham Region and more. We have a long history of helping clients resolve their tax problems.    Tax Amnesty Agents Find a tax agent to help you with tax amnesty to » Read More

Voluntary Disclosure Program (VDP)

As the Canada Revenue Agency (CRA) moves forward to aggressively address non-compliance on unreported income or unfiled taxes, it becomes more important that you need to be aware of the Voluntary Disclosures Programs (VDP) In cases of gross negligence, the Income Tax Act allows the CRA to assess a penalty of up to 50% of the unpaid » Read More