Ian Young explains why the CRA is toothless against global-income cheats
Canada’s tax agency is ‘out for blood’: not from global-income cheats, but from its leaking auditors
- There is no way to verify sources of income coming out of mainland China;
- There is no cooperation between CRA and Citizenship and Immigration Canada; and
- Trying to catch global income cheats via "lifestyle" audits is a losing business for the CRA.
In the July leak, the CRA claimed they redeployed 50 FTEs to income auditing. But it's pretty obvious if these were effective, the CRA would have done it a long time ago. I mentioned this before in other posts, but it is one of the reasons why many Chinese choose Vancouver vs. San Francisco or Los Angeles. Some new immigrant friends had implied the CRA was toothless, but this article basically has it coming from the CRA's mouth.