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Tax Cheats and Whistle Blowers

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  • Tax Cheats and Whistle Blowers

    Tax Cheats and Whistle Blowers
    By Philip M. Epstein, Q.C. and Richard R. Diamond

    The Minister of Finance, Jim Flaherty, has, in his latest budget, announced the creation of a program designed to encourage Canadians to "rat out" known tax cheats by offering whistle blowers a reward of 15% percent of the money CRA would collect as a result of the snitch. This measure is designed to help Canada reduce its significant deficit. The idea behind the scheme is that there are a number of Canadians who are maintaining significant offshore accounts, or otherwise hiding income from CRA.

    At first blush, one might assume that this was a tax measure perfectly designed with warring spouses in mind. Not only could the aggrieved spouse get revenge for the wrongs that they believe their spouse has committed, but they get a reward for so doing.....
    From the Ontario Bar Association newsletter.

    Tolstoy said that when thinking of revenge
    "dig two graves". Tolstoy did not mean the spouse and his girlfriend.
    My favourite line from the article.

  • #2
    Nice article Mess, thanks for the post.

    Comment


    • #3
      Originally posted by Mess View Post
      Tax Cheats and Whistle Blowers
      By Philip M. Epstein, Q.C. and Richard R. Diamond
      From the Ontario Bar Association newsletter.My favourite line from the article.
      Interesting he didnt say the spouce and her boyfriend!!!

      Comment


      • #4
        I've considered calling CRA on some of my ex's Canadian tax fraud but haven't done it since the returns aren't joint. He was basically not reporting the correct income on trading stocks in the U.S. on his Canadian tax forms.

        I don't want any reward money back from CRA. I just hate that he defrauded the government at a time when we were doing well financially and had no reason to do so.

        Comment

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