Know a Tax Cheat? You may be eligible for a Cash Reward!
Posted on July 18, 2019
The Canada Revenue Agency recently paid out ‘under $1 million’ in cash rewards to individuals that provided information on tax cheaters.
You are eligible for a cash reward through the Offshore Tax Informant Program (OTIP) if your information meets the following criteria:
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Provides information on Canadian tax payers that use foreign countries to inappropriately reduce or avoid tax payable in Canada
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The Federal tax evaded or avoided is greater than $100,000
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Information must be specific and not merely speculative
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Greater than $100,000 is ‘collectible’ by CRA
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CRA has not already received this information from another source
If you meet the above criteria you are eligible for a reward between 5 and 15% of taxes collected and CRA will act to maintain strict confidentiality of your identity.