2007-01-10 10:26:34 · 7 answers · asked by Tax evader 1 in Business & Finance ➔ Taxes ➔ Canada
No, you're just throwing money away. Penalties for non-filing, or late filing is based on the amount of tax due. If you are due a refund, there will be no penalty. However, you only have 3 years to file for a refund. After that, even if you file, you get nothing back and the government gets your money.
2007-01-10 10:44:12 · answer #1 · answered by jseah114 6 · 2⤊ 0⤋
No it is not considered fraud but then you never can be 100% sure that you are expecting a refund unless you do file. It happens on many occasions where a taxpayer thinks they are entitled to a refund but they actually owe. Best to file on time.
2007-01-11 19:57:56 · answer #2 · answered by taxmandude 1 · 1⤊ 0⤋
If you didn't file there is nothing to be considered fraud. CRA will send you a letter requesting to file. You will be assessed with a certain amount if they believe you owe them even if you don't. It's their way of making individuals file their returns. If you believe you are getting money back that's great. Why don't you file and get your money? Either way you should file before your account get frozen. If you owe the interest rate will kill you.
2007-01-12 03:38:19 · answer #3 · answered by hurt 3 · 1⤊ 0⤋
Revenue Canada doesn't consider it fraud, but can hold you responsible for failure to file - which still gives you financial penalties, even if you don't owe additional tax.
2007-01-11 22:47:26 · answer #4 · answered by Anonymous · 1⤊ 0⤋
fraud, no. but tax evasion would most likely be the charges pressed next time you get a government audit. the government has the final word on deciding how much you are owed or how much you owe them, so irregardless you must file so they can make that decision.
2007-01-10 18:44:29 · answer #5 · answered by Mike D 1 · 0⤊ 2⤋
Check the link, probaly no. If you owe money then I think they charge 10% a year calculated daily and eventually they will come after you.
2007-01-13 12:56:16 · answer #6 · answered by biteme 2 · 0⤊ 1⤋
fraud no..
failure to file another matter..
better to file than IRS lay hold of you...............
2007-01-10 18:56:41 · answer #7 · answered by cork 7 · 1⤊ 1⤋