12°c Light drizzle
17°c Mainly cloudy
Winnipeg Free Press - PRINT EDITION
Tax evaders beware, but no rogues please
Call it Crime Stoppers for tax evaders, a new program encouraging Canadians to snitch on people they know are avoiding taxes in Canada by shifting money out of the country. The Stop International Tax Evasion Program will pay rewards to people who tell the Canada Revenue Agency about such people, if it leads to the collection of outstanding taxes.
Finance Minister Jim Flaherty, who is counting on getting $4.4 billion from closing tax loopholes and going after international tax cheats during the next five years, said you won't get the money if you were part of the deal. "We will not pay anyone who was part of the deal," he said. "We're not looking for rogues to turn in other rogues."
The program could pay a reward of up to 15 per cent of the tax collected from the tip when the tax evasion includes foreign property or transactions conducted partially or entirely outside the country.
And of course, before you go spending those big bucks, prepare to hand over your share to the CRA yourself. The reward money is itself taxable.
How much will this net the federal government? Flaherty has no idea.
"We don't know how much evasion there is until we go after it," he said.
Republished from the Winnipeg Free Press print edition March 22, 2013 B4
More Business
- Back to Top
- Return to Business
More Business
(1 of 11 articles for today)
German ship's 4 crew members captured by pirates off Equatorial Guinea released after 1 month
8:26 AM 0BERLIN - A German shipping company says four crew members from one of its vessels have been released a month ...
Poll
Most Popular Business
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Value Partners cracks $1-B mark in assets
- Changes to CPP rules worth looking into
- Canada threatens 'retaliatory measures' over new US meat labeling regulations
- New owner for lumber stores
- Even a nine-year-old grills McDonald's CEO over menu
- Manitoba housing affordability deteriorates
- Wealth survey indicates average person has $6.6K
- Creative industries can fuel a city's economic engine
- Canada gets tablet
- New owner for lumber stores
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Value Partners cracks $1-B mark in assets
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Changes to CPP rules worth looking into
- Value Partners cracks $1-B mark in assets
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Manitoba farm land values increased by an average of 4.3 per cent in 2011
- She's got entrepreneurial spirit
- Valeant shares soar amid report drug firm near $9B deal to buy Bausch and Lomb
- Thorough record-keeping key to power of attorney
- Will, power of attorney are different documents
- Genivar says ethical lapses have hurt employee morale; unveils growth plan
- Canada threatens 'retaliatory measures' over new US meat labeling regulations
- New owner for lumber stores
- Value Partners cracks $1-B mark in assets
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Changes to CPP rules worth looking into
- Ex-'Pegger seeks to grow local businesses
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Value Partners cracks $1-B mark in assets
- Older and jobless? Resource on hand
- Local boy leads Great-West
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.