Voluntary Disclosures Program
Voluntary Disclosures Program in Oakville, ON and Toronto ON
Whether you are running a retail store, a hospitality industry service provider, or a manufacturing plant we have the experienced and knowledge to help you succeed.
Have you made an error in a corporate or personal tax filing? Have you left out important details in a prior filing? Are you behind on your small business’ tax filings? If so you may want to take advantage of the Canada Revenue Agency’s Voluntary Disclosures Program.
What is the Voluntary Disclosures Program?
The Voluntary Disclosures Program (VDP) gives you the opportunity to come forward with corrections to prior period tax returns, or non-filed returns and potentially avoid penalties and prosecution on the information accepted under the program.
Do you qualify for the Voluntary Disclosures Program?
In order to qualify for the program a valid disclosure must meet all of the following four conditions:
- your disclosure is voluntary (made before you become aware of any compliance action taken by the CRA against you);
- a penalty applies to it;
- the information is at least one year overdue; and
- the information is complete.
Can Campanella McDonald LLP help with a Voluntary Disclosure?
Our firm has helped numerous small business owners and individuals access the Voluntary Disclosures Program. Often, depending on the sensitivity of the situation at hand, we work with tax lawyers to prepare documents for taxpayers under an anonymous disclosure.
To find out if this government program is right for you feel free to contact us today.