A man was fined and sentenced to four months probation in Nanaimo provincial court last week for failing to file tax returns.
Glen David Hayes was sentenced Oct. 25 after pleading guilty to four counts of failing to file personal and corporate income tax returns.
Hayes was fined $2,000 for failing to file his 2003 and 2005 personal income tax returns and an additional $2,000 for failing to file the 2004 and 2005 corporate income tax returns for Mid-Island Custom Wood Exporters Ltd.
Taxpayers convicted of failing to file tax returns – in addition to any fines imposed by the courts – must still file the returns and pay the full amount of taxes owing plus interest as well as any civil penalties assessed by the Canada Revenue Agency.
Those who have not filed returns for previous years, or not reported all income, can still voluntarily correct their tax affairs and may not be penalized or prosecuted if they make a valid disclosure before becoming aware of any compliance action initiated by the CRA.
More information on the voluntary disclosures program can be found at www.cra.gc.ca/voluntarydisclosures.