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