The underground economy grew 18.9% in five years, Statistics Canada data show. The increase of billions in undeclared transactions followed a Canada Revenue Agency threat to begin fingerprinting tax evaders, According to Blacklock's Reporter..“While the residential construction business has historically been the largest contributor to underground economic activity it was particularly high in 2021 as underground economic activity in this industry increased 32.8%” StatsCan said yesterday in a report The Underground Economy In 2021..Tax auditors acknowledged the pandemic was a boon for tax dodgers. Greater use of internet sales as a result of COVID-19 lockdowns “amplified the risk online that income is not reported or is under-reported by individuals and businesses especially since it cannot be identified using conventional techniques,” said a 2022 Agency report Underground Economy Business Plan..“The following emerging platform economy non-compliance risks were identified: the anonymity of sellers and difficulties with tracking income as sellers may earn revenue from multiple platforms given there is no information reporting requirement which would provide the CRA with an identification mechanism to address non-compliance by platform sellers,” said Underground Economy..“The Agency is aware during the Covid-19 pandemic some Canadians began earning income through the digital economy,” said the report, adding: “Left unchecked, the underground economy would erode people’s faith in the integrity and fairness of Canada’s tax system.”.“A large segment of Canadian society does not see the underground economy as a threat to their standard of living and a significant number of Canadians are active in the underground economy without giving much thought to its consequences,” wrote staff. “Public opinion research has demonstrated the negative impacts of the underground economy are not well known by many Canadians or are misunderstood.”.The Agency in a 2015 Underground Economy Strategy proposed fingerprinting tax evaders to frighten other scofflaws. “Individuals and businesses that repeatedly participate in the underground economy will have their files reviewed to determine if a referral to the Canada Revenue Agency’s criminal investigations division is warranted,” wrote staff. “The division will also pursue the fingerprinting of individuals involved in tax evasion, where appropriate, reinforcing the seriousness of the charges.”.The fingerprinting scheme was never introduced. The Agency in a 2019 report Taxpayer Attitudinal Segmentation Research found a significant minority of tax filers, as many as a third, said they would cheat on their taxes if they thought they could get away with it. A majority, 52 percent, agreed with the statement: “I think Canadians pay too much.”.This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
The underground economy grew 18.9% in five years, Statistics Canada data show. The increase of billions in undeclared transactions followed a Canada Revenue Agency threat to begin fingerprinting tax evaders, According to Blacklock's Reporter..“While the residential construction business has historically been the largest contributor to underground economic activity it was particularly high in 2021 as underground economic activity in this industry increased 32.8%” StatsCan said yesterday in a report The Underground Economy In 2021..Tax auditors acknowledged the pandemic was a boon for tax dodgers. Greater use of internet sales as a result of COVID-19 lockdowns “amplified the risk online that income is not reported or is under-reported by individuals and businesses especially since it cannot be identified using conventional techniques,” said a 2022 Agency report Underground Economy Business Plan..“The following emerging platform economy non-compliance risks were identified: the anonymity of sellers and difficulties with tracking income as sellers may earn revenue from multiple platforms given there is no information reporting requirement which would provide the CRA with an identification mechanism to address non-compliance by platform sellers,” said Underground Economy..“The Agency is aware during the Covid-19 pandemic some Canadians began earning income through the digital economy,” said the report, adding: “Left unchecked, the underground economy would erode people’s faith in the integrity and fairness of Canada’s tax system.”.“A large segment of Canadian society does not see the underground economy as a threat to their standard of living and a significant number of Canadians are active in the underground economy without giving much thought to its consequences,” wrote staff. “Public opinion research has demonstrated the negative impacts of the underground economy are not well known by many Canadians or are misunderstood.”.The Agency in a 2015 Underground Economy Strategy proposed fingerprinting tax evaders to frighten other scofflaws. “Individuals and businesses that repeatedly participate in the underground economy will have their files reviewed to determine if a referral to the Canada Revenue Agency’s criminal investigations division is warranted,” wrote staff. “The division will also pursue the fingerprinting of individuals involved in tax evasion, where appropriate, reinforcing the seriousness of the charges.”.The fingerprinting scheme was never introduced. The Agency in a 2019 report Taxpayer Attitudinal Segmentation Research found a significant minority of tax filers, as many as a third, said they would cheat on their taxes if they thought they could get away with it. A majority, 52 percent, agreed with the statement: “I think Canadians pay too much.”.This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
