Trucker fined for tax evasion

CRA has announced that on October 25, 2012, Terry Vogler and 1266604 Ontario Inc, both of Thamesville, Ontario, pleaded guilty in the Ontario Court of Justice in Chatham to a total of three counts of income tax evasion, and one count of GST evasion.

They were fined a total of $31,014, representing 100% of the tax evaded, and given one year to pay the fine.

A CRA investigation revealed that Vogler, owner of 1266604 Ontario Inc., operating as Terry Vogler Trucking, charged $101,279 in personal expenses to the company in 2005 and 2006.

The personal expenses related to his home, cottage, speed boat, and luxury sports car. Vogler also charged personal vacations to the company. By doing so, Vogler evaded paying $31,014 in personal income taxes.

Taxpayers who have not filed returns for previous years, or who have not reported all of their income, can still voluntarily correct their tax affairs.

Read: Come forward with full disclosure: CRA

They may not be penalized or prosecuted if they make a valid disclosure, via the Voluntary Disclosure program, before they become aware of any compliance action being initiated by the CRA against them.

These taxpayers may only have to pay the taxes owing, plus interest.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.