Tuesday, June 22, 2021

CRA AUDITS OF ULTRA-WEALTHY YIELD NOTHING

 Data from the Canada Revenue Agency shows its recent efforts to combat tax evasion by the super-rich have resulted in zero prosecutions or convictions.

In response to a question tabled in Parliament by NDP MP Matthew Green, the CRA said it referred 44 cases on individuals whose net worth topped $50 million to its criminal investigations program since 2015. 

Only two of those cases proceeded to federal prosecutors, with no charges laid afterward.

Green said federal authorities avoid pursuing Canada's biggest tax cheats but go after small business owners who don't pay their taxes under a "two-tiered system" pocked with "loopholes."

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