A CRA voluntary disclosure submission is primarily a legal tax procedure that can on occasion lead to a tax court battle, so should be submitted by a Toronto tax lawyer. A voluntary disclosure is effective from the time the taxpayer or his representatives contact Revenue Canada, even if detailed submissions are not made at that time. Therefore, for example, a taxpayer who has not filed tax returns for several years need not have them ready when first contacting Revenue Canada. However the taxpayer will have to come to an agreement with Revenue Canada as to what period of time will be required to submit all necessary information. The initial contact will be considered to be the date of the voluntary disclosure. The rules for a no-names disclosure are slightly different.
If you are losing sleep because of unreported income, tax evasion or unfiled tax returns, your situation is probably not as bad as you fear. Submit the CRA voluntary disclosure in proper time through an expert Toronto Tax lawyer to sleep at night in peace. To hire the best Canadian tax lawyers or to learn more about our services, visit us or contact us below:
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