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ARTICLE · 06 DECEMBER 2017

Postal Code Project – CRA Targets Wealthy Canadians

Devry Smith Frank LLP
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Canada's wealthiest individuals have been put under a microscope.The CRA has launched a project dubbed the "Postal Code Project" that is targeting taxpayers residing in affluent neighbourhoods across Canada.

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Devry Smith Frank LLP
Devry Smith Frank LLP
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Canada's wealthiest individuals have been put under a microscope. The Canada Revenue Agency (CRA) has launched a project dubbed the "Postal Code Project" that is targeting taxpayers residing in affluent neighbourhoods across Canada.

The Postal Code Project will be an in-depth analysis, using postal-codes in high-priced neighbourhoods, as an indicator of a taxpayer's lifestyle. The goal of this Project is to conduct taxpayer reviews based on an indication that a taxpayer may be richer than is disclosed through his or her income tax filings; with the intention of discovering evidence of undeclared wealth. Details of this initiative were obtained by CBC News under an Access to Information request and reveal that the "residence focused approach to audit" is intended to further the Government's stated priority of ensuring "that those who are wealthy pay the tax they owe".

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