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CRA increasing crackdown on tax evasion and avoidance


Wednesday, August 10th, 2016

To preface this article, it should be clarified what “tax evasion” and “tax avoidance” is. Tax evasion is the act of avoiding tax by disregarding taxation laws and not reporting taxable income. Abusive tax avoidance refers to tax planning to unfairly minimize taxes payable. Many individuals typically express concern regarding the latter, as aggressive tax planning by unsavoury advisors takes advantage and twists the rules of taxation to produce a “too good to be true” scenario that has no legitimacy in the Income Tax Act.

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