Some examples of what may be disclosed in a GST/HST application are: The GST/HST stream covers disclosures related the goods and services tax and the harmonized sales tax, excise tax, excise duty, the softwood lumber products export charge and the air travellers security charge. T1135 Foreign Income Verification Statement), and a failure to file an information return (i.e.Canada Pension Plan / Quebec Pension Plan deductions) a failure to remit source deductions for employees (i.e.expenses claimed that were not eligible.
The income tax stream covers all disclosures related to the Income Tax Act, some examples are: We will also continue to reject applications in the VDP if it has already received information on a taxpayer's (or a related taxpayer's) potential involvement in tax non-compliance–for example, a leak of offshore financial information, or other information that names the taxpayer.ĭepending on the type of disclosure you want to make, you can apply to the VDP to change your income tax filings through one of two streams, the income tax stream and the GST/HST stream. To ensure fairness for Canadians, applications for relief from taxpayers who intentionally avoided their tax obligations will not get the same relief as those who want to correct an unintentional error. However, you would be eligible for relief from prosecution and, in some cases, from penalties that you would otherwise be required to pay.Īs the majority of Canadians file and pay their taxes in full and on time, it is important that the relief provided under the VDP be fair and not reward individuals or corporations looking for a way to avoid paying their share of taxes. If you file a VDP application and it is accepted by us (the Canada Revenue Agency (CRA) you will have to pay the taxes owing, plus any applicable interest. OTTAWA, /CNW/ - The Voluntary Disclosures Program (VDP) gives you a second chance to change a tax return you previously filed or to file a return that you should have filed.
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