The following is now available on the CRA Web site: Whether you are a hairdresser, a carpenter, a fisherman, a waiter or waitress, or anyone else who earns part or all of your income in cash, you should know that all of your income is taxable. The Canadian tax system is based on voluntary compliance and you are responsible for declaring all of your income regardless of whether it appears on a T4 slip. To ensure that all Canadians pay their share of taxes, the Canada Revenue Agency (CRA) conducts specific audits in areas where cash transactions are prevalent. The [More]
The following is now available on the CRA Web site: The Canada Revenue Agency (CRA) reminds Canadians that they must report all of their income. Individuals working in industries where cash transactions are prevalent must take extra care to accurately report their income and to maintain the documentation they need to support the income they report. The CRA continues to vigorously enforce the provisions of the tax laws to ensure that all Canadians pay their taxes. This provides a level playing field for all taxpayers and protects the social and economic well-being of all Canadians. The CRA can find unreported [More]