- The Canada Revenue Agency (CRA) will update its Voluntary Disclosures Program (VDP) effective 1 October 2025, covering various taxes and charges. Changes include a simplified application form, increased eligibility, and two new relief tiers: general and partial relief. The program will be more accessible, allowing taxpayers to correct unintentional errors. However, those under audit or investigation remain ineligible. The CRA clarified required documents for VDP applications, with specific guidelines for foreign and Canadian-sourced income or assets.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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