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#21
12-02-2006, 09:27 AM
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Re: Question on Canada and taxes
You would at minimum have to pay taxes owing plus interest.
Likely they would add ona penalty of 100% of the taxes. If it was determined that this was attempted tax evasion and not simply an error or honest mistake of law, then you may face probation. You wouldn't go to jail over it unless you were a repeat offender. 
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#22
12-02-2006, 09:28 AM
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Re: Question on Canada and taxes
Not yet but they are looking into a few cases.
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#23
12-02-2006, 09:31 AM
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Re: Question on Canada and taxes
You don't have to celare an occupation on Canadian passports.
Branches share info but not rountinely. TECHNICALLY, the $ amount is irrelevant. The issue would be whether it was worth them dedicating the resources to come after you. Given an investigation could cost 30k, the analysis means you need to be making over 100k a year and not declaring to have much risk of being hauled to court. But that doesn't mean it is legal to not declare. You are either in the business of poker or not.
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