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:
Provides information on Canadian tax payers that use foreign countries to inappropriately reduce or avoid tax payable in Canada
The Federal tax evaded or avoided is greater than $100,000
Information must be specific and not merely speculative
Greater than $100,000 is ‘collectible’ by CRA
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.