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Published: March 4, 2020

Last Updated: February 21, 2022

Canadian taxpayers who have unreported cash income can avoid prosecution and penalties by submitting a voluntary disclosure.Unreported cash transactions are going to face more audits and penalties owing to the federal budget of April 2015. This federal budget has allocated additional funds to CRA for increased compliance with respect to underground cash economy.
Categories: voluntary disclosure; cra audit.


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