Brampton, Ontario, August 21, 2012 … The Canada Revenue Agency (CRA) announced today that on August 17, 2012, Jim Payne, of Bolton, was fined a total of $12,000 in the Ontario Court of Justice in Brampton. Ontario. He pleaded guilty to five counts of failing to file personal income tax returns and seven counts of failing to file corporate income tax returns. He was given four months to pay the fine. All outstanding returns have been filed.
Mr. Payne failed to file his 2006 to 2010 personal income tax returns. In addition he failed to file the 2006 to 2008 corporate income tax returns for Pashin Holdings Inc., a real estate development company as well as the 2007 to 2010 corporate income tax returns for V2R Group Inc. which performs general contract consulting.
The preceding information was obtained from the court records.
In addition to the fines imposed by the courts, individuals or corporations convicted of failing to file tax returns are still obligated to file the tax returns and pay the full amount of taxes owing, plus interest, as well as any civil penalties that may be assessed by the CRA.
Taxpayers who have not filed returns for previous years, or who have not reported all of their income, can still voluntarily correct their tax affairs. They may not be penalized or prosecuted if they make a valid disclosure before they become aware of any compliance action being initiated by the CRA against them. These taxpayers may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program (VDP) can be found on the CRA’s website at www.cra.gc.ca/voluntarydisclosures.
Canadians and their tax advisers sometimes disagree with the CRA about the meaning of tax laws. These disagreements are normal and can be resolved.
However, over the past few years certain groups have begun publicizing incorrect and misleading advice about tax laws and the legal obligation to pay taxes.
People who accept such incorrect advice and fail to comply with the law could expose themselves to serious financial and legal problems. For more information, see Debunking tax myths.
The CRA and the Department of Finance Canada
When you’re searching government Web sites for tax-related information, your search will be easier if you’re aware of the different roles played by the CRA and by the Department of Finance Canada.
The CRA administers tax laws, but we don’t make or develop fiscal policies or tax laws.
- As a rule, the CRA Web site is where you’ll find information about what the current tax laws say and how they’re interpreted and applied.
- As a rule, the Department of Finance Canada Web site is where you’ll find information about proposed changes to tax laws, proposed tax cuts or increases, studies about the effects of taxation, and possible future tax policies. You may want to consult that department’s news releases and speeches.
- Details of legislation proposed or enacted during the current session of Parliament are available on the Parliamentary Web site.
Tax legislation is also developed by individual provinces and territories (Provincial and Territorial Governments page, Canada Site).
You may also wish to consult the Government of Canada Newsroom and the Department of Human Resources and Skills Development News Room.