What is a Voluntary Disclosure Program (commonly referred to as VDP). How does it help me? Will the CRA audit me because I am filing under Voluntary Disclosure Program?

The Voluntary Disclosures Program gives you a second chance to change a tax return you previously filed or to file a return that you should have filed. It allows you to apply to the Canada Revenue Agency (CRA) to ask for relief of prosecution and penalties.

CRA does not have a policy of auditing taxpayers because they are filing under VDP. VDP is to encourage taxpayers to report what should have been reported in the first place. The VDP is a totally separate program from audit program. If the CRA starts auditing because taxpayers are disclosing their personal information to CRA, then the intent behind VDP would fail and no one will come forward and use VDP.

2018-05-21T14:27:40+00:00