| Historical Information |
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| This post is about a previous Session of Parliament. Any legislation here that did not receive Royal Assent has been terminated. |
S-258 – The Fairness for All Canadian Taxpayers Act (measuring the tax gap to fight international tax evasion) – has the CRA publish a list of all instances of tax evasion, as well as report on the tax gap.
First up we’ve got the easy part. The CRA submits annual reports to the Minister of National Revenue, and this Act would have them include a list of all convictions for tax evasion. The list will be split into two parts, one for Canadian convictions and one for international convictions.
The second part will have the CRA report to the Parliamentary Budget Officer on the tax gap every three years. The tax gap is the difference between the estimated amount of taxes the CRA expected to collect and the amount that was actually collected. These estimates will need to include:
- The value of any reassessments caused by tax audits
- The possibility of collecting more taxes from reassessments
- The rate of incorrect returns that were found through audits
- Uncollected tax from someone required to report on ownership of foreign property not doing so
The CRA will need to break down this report to show what the tax gap looks like across all categories of taxpayer. (Individuals at different income brackets, ages, different businesses, etc)
Progress of S-258
S-258 is currently waiting for its Second Reading vote in the House of Commons. If this is something you have opinions on, either in support or opposition, contact your MP and let them know!
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