Quote:
Originally Posted by calf
Just to close the loop on this, after talking to another buddy who does a lot of personal taxes as well, he said 'oh yeah, this is happening lots...good luck and if you succeed, let me know how you did it". So, with the penalties/interest not being overly huge, we decided not to waste our time and just pay the tax, interest and penalties for 2022/2023. Refiled and immediately paid 2024 taxes to avoid it getting caught/hit with further penalties, but they charged a whopping $12 in interest for our troubles. The lesson being - have the seniors in your life check all their online accounts that have any sort of money, etc, in case they send tax slips there instead of by mail!
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If that's all you got dinged for, start the car! Totally worth $12 to close the loop earlier.
CRA recently also stated they are changing the VDP program. The maximum penalties to be waived via VDP is no longer 100%. It seems that going forward, almost everyone will have to do both VDP and taxpayer relief at the same time to see if they can get it 100% waived.