Major Changes to the Voluntary Disclosure Program

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The Canadian Income Tax system can be complex and intimidating. The Voluntary Disclosure Program allows Canadian taxpayers to come forward and correct any previous errors or omissions in their tax affairs. Recent changes proposed by the Department of Finance suggest that the opportunity to avoid penalties will be narrowing at the end of 2017. Our newsletter provides background on the program, as well as a summary of the proposed changes. Consider if you could benefit from the current Voluntary Disclosure Program. If so, act now!