Our April Newsletter us up and available HERE and under our Newsletter section. Canada's income tax system requires taxpayers to self-assess, report their income and pay the resulting tax each year. If a taxpayer has previously reported incorrect or incomplete information, or has failed to disclose information, the tax payer may voluntarily come forward and disclose the errors in exchange for penalty relief. There are other requirements that must be met.
The Newsletter goes into greater detail on this subject matter, and is worth the read.
If you have any questions on this subject matter, or think this may apply to you, please call our office at 613-235-2000 and ask to speak to someone in our tax department.