T1135 Filing Requirements

All Canadian resident taxpayers, including non-resident trusts deemed resident in Canada due to Foreign Accrual…

Published: March 4, 2020

Last Updated: March 17, 2020

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Upcoming Changes to the Voluntary Disclosures Program (VDP) – A Canadian Tax Lawyer Analysis

On December 15, 2017 the Canada Revenue Agency published Information Circular IC00-1R6 – Voluntary Disclosures…

Published: March 4, 2020

Last Updated: July 8, 2021

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Penalty for not Filing T1135

There are substantial penalties for failing to complete and file T1135 forms if required. If…

Published: March 4, 2020

Last Updated: October 21, 2022

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Deductibility of Costs Incurred in Submitting a Voluntary Disclosure

CRA has confirmed its position that the costs incurred to make a voluntary disclosure are…

Published: March 4, 2020

Last Updated: March 17, 2020

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Changes to new T1135

The format of a T1135 form used to be relatively simple and straightforward to complete.…

Published: March 4, 2020

Last Updated: March 17, 2020

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Offshore Reporting Rules

Corporate Reporting In December 1995 corporations received Revenue Canada’s revised version of form T106, the…

Published: March 4, 2020

Last Updated: April 10, 2020

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CRA Tax Investigators Are Monitoring On-Line Lisitngs

CRA Investigations of "Curbsiders" or "Curbers"– Unlicensed Car Dealers CRA tax investigators are monitoring Auto…

Published: March 4, 2020

Last Updated: March 17, 2020

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Unreported Income in HSBC Swiss bank Accounts

In Early February of this year, the CBC’s investigative journalism team uncovered documents that showed…

Published: March 4, 2020

Last Updated: April 10, 2020

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Offshore Tax Informant Program Statistics – Toronto Tax Lawyer

Offshore Income CRA Latest Statistics – Toronto Tax Lawyer Commentary Unreported Offshore Income & CRA…

Published: March 4, 2020

Last Updated: August 5, 2020

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