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Canada’s Income Tax Act requires Canadian residents to report all worldwide income on their income tax returns. This includes offshore or foreign pension income.

Canadian residents are required to report their foreign pension income even if it is not taxable in the country where it originates such as the UK. If you have not reported your offshore pension income you may be eligible to have one of our Canadian income tax lawyers submit a voluntary disclosure to avoid penalties and prosecution and possibly reduce interest owing.

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Pro Tip

CRA Tax Audits

There are over 350,000 tax audit and review actions conducted by the Canada Revenue Agency on a yearly basis. Around 15,000 of these tax audits deal with “cash only” businesses (i.e. the underground economy). Additionally, an estimated 35,000 are tax shelter audits.

Get your CRA tax issue solved


Address: Rotfleisch & Samulovitch P.C.
2822 Danforth Avenue Toronto, Ontario M4C 1M1