Voluntary Disclosure Program

The Voluntary Disclosure Program with the Canada Revenue Agency promotes compliance by encouraging taxpayers to voluntarily come forward and correct and/or report previous omissions.  The program is designed to eliminate any penalties incurred for non-compliance.   

Some common items can include:

    • Unreported or under reported income from employment or business
    • Unreported capital gains
    • Any error made on a previously filed tax return
    • Unreported foreign sourced income that is taxable in Canada
    • Claimed ineligible expenses on a tax return
    • Non reporting of the T1135 – Foreign Income Verification Statement

The above applications with CRA can cover both income tax and GST/HST