Читать книгу Tax Survival for Canadians - Dale Barrett - Страница 37

If you have unreported income, you can expect to pay interest on that income. Interest accrues from the date disclosure or when the filing should have occurred. The interest rate fluctuates each quarter. It is always higher than bank interest, so using the CRA as a lender is not a wise choice. Since interest accrues from the filing due date and is compounded daily, it does not take long before your taxes become difficult or impossible to repay. Since a debt to the CRA can double in as little as seven years depending on the interest rates, you can imagine how many people have been led to financial ruin or bankruptcy as a result of late filing.