There’s no question we all feel that we pay too much tax. But that’s never stopped our federal and provincial governments from seeking out new ways to prevent you from keeping more of your money in your wallet. Their latest initiative is a carefully targeted stealth campaign that uses lifestyle audits to assess your spending – where you live, how often you travel, what type of car you drive, how many big ticket purchases you make in a year – and then compare it to your declared income to see if it all adds up. If they think it doesn’t, you could suddenly find yourself in the middle of an investigation for criminal tax evasion.

Dentists and other fee-for-service health professionals are a favourite target of the Canada Revenue Agency (CRA). If you’ve been cheating on your taxes—not reporting all your income, hiding money offshore, or maybe just not bothering to file a return on time every year—it won’t be long before the tax police come knocking on your door. And while you’re under investigation, the tax department can freeze your bank accounts, seize your car, your investments, your property, and otherwise tie up virtually everything you own.

If you are convicted of criminal tax evasion, penalties can be as much as 250% of the tax owing. Plus the daily interest. Alternatively, a jail term of up to two years is possible.

Protect your family, your practice, and your peace of mind with DioGuardi & Company’s Tax Amnesty™ solution. It’s a safe way to clean up your tax situation with no criminal prosecution and no financial penalties. We may also be able to negotiate a waiver of tax and interest for some of the years owing.

In the meantime, SMILE! Because the taxman is watching!