Tag Archives: Relief
VDP or Taxpayer Relief? Which one is right for you?
The CRA offers two main relief options: the Voluntary Disclosures Program (VDP) for taxpayers correcting errors before the CRA acts, and Taxpayer Relief for cancelling penalties or interest caused by extraordinary circumstances. Following the 2025 policy changes, some taxpayers may still qualify for VDP relief even after receiving certain CRA notices. In complex cases, a Hybrid Relief Strategy combining both programs can help maximize penalty and interest reductions.
The CRA Taxpayer Relief Program Explained
Many Canadians mistakenly believe that if they don't sell their stocks, cryptocurrency, or business before moving abroad, they don't owe any tax. This is a costly misunderstanding.