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Tuesday's Tax Tidbits- Latest Income Tax Info - Sept 09, 2014

Recovering Missing Social Insurance Number (SIN)

A SIN is required to file Canadian income tax returns. If your SIN card is lost or stolen and you have not recorded your number, you can request confirmation of your SIN. You will need to bring original proof of identity documents (one of birth certificate, certificate of Canadian citizenship, certificate of registration of birth abroad)to nearest Service Canada point of service. There is no mail-in option unless you live more than100km from nearest Service Canada point of service or in inaccessible areas or if you reside outside of the country. If you apply by mail you will have to send the original by mail, so registered mail is recommended. The plastic SIN cards are no longer issued, only letters of confirmation.  

Voluntary Disclosure:

Are you considering a voluntary disclosure (VDP or tax amnesty application) to the Canadian tax department for unflled Canadian income tax returns or undeclared income, but are feeling confused due to all of the conflicting information on the internet?

Are you afraid of a sinister "tax man" or "tax police" in dark glasses waiting to pounce on you and throw you in jail for tax evasion or not filing tax returns?

Nothing could be further from the truth. You CAN sleep at night, despite the fear mongering that you may have seen to the contrary.

The Canadian income taxation system is based on self-assessment. Taxpayers sometimes fail to report all income that they should, either through inadvertence or due to the extreme complexities of the Canadian tax system.

The purpose of the Canada tax amnesty program is to encourage Canadian taxpayers to voluntarily comply with their income tax obligations. Prosecution would be contrary to the goals of the VD program and contrary to the published guidelines (binding on CRA) that make it clear there will be no prosecution.

Benefits of Filing A Voluntary Disclosure Application


Find useful tax tips on Canadian Income Taxation suggested by experienced Canadian Tax Lawyers. Proper Tax Planning can reduce your Canadian income taxes owing.