Published: March 23, 2020
Last Updated: April 13, 2020
CRA has a focus on unreported cash income and regularly audits offenders in three most-active underground sectors, that is, construction, retail trade and food services, including table-waiting staff. In 2014-15, according to the CRA Report to Parliament, CRA investigated or audited out almost 6,540 income tax and GST/HST underground economy files and identified over $448 million in unpaid taxes. A voluntary disclosure through one of our Canadian tax lawyers will avoid penalties and prosecution for unreported cash income.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
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