Newfoundland Archives

Hurricane Igor Tax relief measures available to Canadians

For information on the Canada Revenue Agency's (CRA) tax relief measures available to taxpayers affected by Hurricane Igor in Newfoundland and Labrador, please see the CRA web site at:
http://www.cra-arc.gc.ca/nwsrm/rlss/2010/m09/nr100923-eng.html

Newfoundland and Labrador businessman's tax scheme nets house arrest; heavy fine

The Canada Revenue Agency has issued a news release indicating that a Newfoundland and Labrador businessman and engineer has been fined more than $488,000 and sentenced to four months of house arrest after the individual was convicted on charges of tax evasion in St. John's Provincial Court.

A CRA investigation revealed that the individual deliberately hid income by incorporating his company and depositing income in offshore bank accounts in a "tax haven" jurisdictionand that he also failed to collect, remit, and file any GST/HST returns.

The news release serves as a reminder to Canadians of the potential for still penalties for tax avoidance and evasion schemes.

For more information, please see the CRA web site:
http://www.cra-arc.gc.ca/newsroom/convictions/nl/nl080304-e.html