Tag: Compliance

CRA Hones in on Private Contractors Who Shop at Home Depot

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As part of its crackdown on unreported income, Canada Revenue Agency is targeting suspected under-the-table home improvement contractors who buy their materials from Home Depot. Back in July, the CRA obtained a Federal Court order that compels Home Depot Canada to give the CRA a list of their customers, along…

Canada Revenue Agency is Investigating Failed Cryptocurrency Exchange QuadrigaCX

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The Canada Revenue Agency is auditing QuadrigaCX’s corporate tax returns, according to the bankruptcy trustee overseeing its case. The CRA sent a letter to bankruptcy trustee Ernst & Young announcing that it will be reviewing QuadrigaCX’s tax corporate tax returns ranging from 2015 to 2018. QuadrigaCX was Canada’s largest cryptocurrency…

Real Estate Authorities Build Anti-Money Laundering Network

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On April 9, the two real estate regulators – the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the Real Estate Council of British Columbia (RECBC) – announced that they have entered a memorandum of understanding (MOU) in an attempt to prevent money laundering in the real estate…