If you have participated in the underground economy, you can correct your tax situation with the CRA through the Voluntary Disclosures Program . Before the CRA finds you, you have an opportunity to come clean. Under certain conditions, this program allows you to correct inaccurate or incomplete information on your tax returns. You can disclose amounts that were not previously reported, without penalty or prosecution. You will pay the taxes you owe plus interest. Remember – if you want to participate in the VDP, you must provide complete information.
There was a time in the USA that if you had a skill, or knowledge and you wanted to go into Business you put a sign out and wow you were in business. This is where many many of the major businesses did start. Wal mart was a family owned and run hardware store. Johnson and Johnson was a drug store. Then our elected officials in the guise of protecting us destroyed the competition that enabled families to support and enhance their lives and communities. Every restriction, mandate, license, tax, or law that has been enacted has put businesses out of business by increasing the cost of doing business and thus increasing the price of products. If you were good at your endeavor and gave value for dollar you grew. This was the American way. This was the land of opportunity. This was what made us the greatest nation on earth. If you overpriced or gave poor service or low quality you did not last long, but if you gave full value for dollar in all ways the word spread quickly. If you want to fix the economy then allow our people to work when and how they can. Please do not take my next statement out of context or call me a pot head [truthfully I never even tried it} but at this time our elected officials are in the process of legalizing the growth and sale of Marijuana, and the reason for this is so they can regulate, mandate, tax and control it, not because it has suddenly become good for you but because they see dollar signs and so my good friends there goes another free enterprise out the door. We may need SOME restrictions, SOME regulations, SOME control but this is out of hand and over the top. Do you know that Wal Mart if a store is very profitable make about less than one dollar off of each customer in the form of profit? They survive on volume. For every dollar they take 75 cents of it is taxes [taxes come in many forms but every item you purchase has been taxed each time it was handled, a farmer grows cotton he pays taxes which increase the price of his crop, then it is milled and taxed again then it is spun into thread taxed again then it is woven taxed again then is made into finished product taxed again and shipping between each step taxed ] the remaining few cents needs to go to labor, utilities, and up keep, so who in their right mind wants to become a business owner in this environment ?