Bay Street Accounting and Tax Services, Toronto ON
Bay Street Accounting and Tax Services
44 St Joseph St Toronto, ON M4Y2W4
Accountant
Access to the Canada Revenue Agency’s Voluntary Disclosure Program by Bay Street Accounting and Tax Services

Access to the Canada Revenue Agency’s Voluntary Disclosure Program

The Canada Revenue Agency’s Voluntary Disclosure Program (VDP) provides taxpayers the potential to realize some dispensation from late filing penalties and partial relief from interest charges, by correcting previous instances of “non-compliance”, including non-disclosure and non-payment. For example, such as if taxpayers failed to file a tax return, did not meet their tax obligations, if they claimed ineligible expenses, failed to remit source deductions, or failed to report or remit the GST/HST. The VDP also applies to disclosures for excise tax, excise duties and source deductions.

In response to criticism that the current VDP is overly generous, suggested revisions to the program are current being formulated and are scheduled to take place on January 1 of 2018. These changes would involve making the program much more restrictive. Persons who may be motivated to access the program are encouraged to do so before January 1, 2018, when the changes are scheduled to take effect.

We Also Offer

Income Tax Returns
Joseph Lawson from Bay Street Accounting and Tax Services
Income Tax Returns by Bay Street Accounting and Tax Services
The firm provides services in the preparation and fling of individual (T1) and corporate (T2) income tax returns. The objective is to provide a sup...
Business Plans and Financial Projections
Joseph Lawson from Bay Street Accounting and Tax Services
Business Plans and Financial Projections by Bay Street Accounting and Tax Services
A Business Plan is an important document for a new or growing business and it may potentially assist in obtaining financing. Many business plan...
Financial Statements for Corporations
Joseph Lawson from Bay Street Accounting and Tax Services
Financial Statements for Corporations by Bay Street Accounting and Tax Services
An alternative to having a financial statement audit is a compilation with a “Notice to Reader” placed on the unaudited financial statements prepar...
Financial Services
Joseph Lawson from Bay Street Accounting and Tax Services
Financial Services by Bay Street Accounting and Tax Services
Bay Street Accounting and Tax Services is registered accounting practice that offers competitive non-assurance services in accounting, tax and fina...
12
Local Recommendations
About Us
Bay Street Accounting and Tax Services is sole a proprietorship, operated by a Chartered Professional Accountant. The firm provides a range of services in accounting, taxation, finance and busines...(more)