The voluntary disclosure process is a means by which deficiencies in income tax filings can be corrected without hefty penalties or fear of prosecution. We have assisted in hundreds of voluntary disclosure cases and understand the CRA practices and procedures.

We can:

• determine the most appropriate filing position for reporting previously undisclosed income;
• investigate possible tax strategies to minimize the taxes involved;
• compile the information and submit the situation to  CRA;
• negotiate on the tax treatment of certain items and  a possible reduction of interest in certain circumstances; and
• attempt to arrange payment terms over an extended period if necessary.

We normally undertake this work only on a retainer fee for service basis.