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June 13, 2024

Service Areas

Voluntary Disclosures

The voluntary disclosure process is a means by which deficiencies in income tax returns can be corrected without penalty or fear of prosecution. We have been involved in numerous cases of voluntary disclosure, and understand CCRA practices and procedures.

We can

  • determine the most appropriate filing position for reporting previously undisclosed income;
  • investigate possible tax-planning strategies to minimize the taxes involved;
  • present the situation to the CCRA on a "no names basis," and attempt to negotiate a favourable settlement before revealing the identity of the client;
  • negotiate a waiver of interest in certain extraordinary circumstances; and
  • negotiate payment terms over an extended period of time.

We normally undertake this work only on a full retainer basis.