CRA’s Voluntary Disclosure Policy
Worried about having unfiled or incorrectly filed tax returns?
All is well until CRA find out!
The government wants everyone to be tax compliant and prefer that people voluntarily come forward, come clean, and pay the taxes that they owe. This is why the information of those caught and convicted of tax evasion is made public; to scare other taxpayers to be compliant.
If you meet the criteria of the Voluntary Disclosures Program, you will only owe taxes plus interest. You will not have to pay civil penalties or need to worry about criminal charges. You may even qualify for a reduction in interest assessed by CRA.