ARTICLE · 07 DECEMBER 2017

Voluntary Disclosure Changes Deadline Approaching

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While CRA has not responded to any of the submissions about the proposed changes to the voluntary disclosure program we are advised by CRA employees that their systems are being updated...

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David Rotfleisch

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While CRA has not responded to any of the submissions about the proposed changes to the voluntary disclosure program (VDP or tax amnesty) we are advised by CRA employees that their systems are being updated in anticipation of the new rules coming into force on January 1, 2018. This means that the deadline to submit a voluntary disclosure under the current more expansive rules is looming. Anyone who has tax compliance issues such as unreported income or offshore assets or unfiled tax returns should try to submit a voluntary disclosure application before the end of the year.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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