How we help
- Foreign real estate and bank accounts
- Foreign-held investments and trusts
- Specified Foreign Property over $100,000 CAD
- Late T1135 penalty relief
CANADA'S TAX & BUSINESS LAWYERS
Avoid Problems on Unreported Offshore Assets! We Can Help
We've got you covered!
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We Have Helped Hundreds of Canadians Sort Their Undeclared Offshore Assets
01.
Keep the Auditors at Bay.
02.
Handle the Auditor so You Don't Have to.
03.
Conduct the Audit in Our Office.
04.
Help Prevent Legal Issues and Penalties Against Undeclared Offshore Assets
Unreported Offshore Assets
Do you have a foreign bank account or foreign property?
Did you know that it is mandatory for Canadian Residents to report all offshore assets to the CRA when the combined total value of those assts is in excess of $100,000?
The penalties for not reporting offshore assets can be up to $2,500 per year.
Book a Consultation with a Lawyer
Unreported Offshore Assets
Do you have a foreign bank account or foreign property?
Did you know that it is mandatory for Canadian Residents to report all offshore assets to the CRA when the combined total value of those assts is in excess of $100,000?
The penalties for not reporting offshore assets can be up to $2,500 per year.
Book a Consultation with a Lawyer
Barrett Tax Law has the expertise to handle your VDP to report any unreported Offshore Assets.
CALL US TODAY 1-877-882-9829
What to expect when you call us
Your first call is a free, no-obligation consultation with a tax lawyer. We will review the details of your situation, explain your options under the Income Tax Act and CRA administrative practice, and give you a clear, fixed-fee quote if you choose to retain us. Your consultation is confidential, and once we are retained, communications are protected by solicitor–client privilege.
If you retain us, we begin work within 24 hours of being retained.
Frequently asked questions
Am I eligible for the Voluntary Disclosures Program?
Generally yes, as long as the CRA has not yet contacted you about the matter you wish to disclose, the disclosure is voluntary, complete, and at least one year overdue, and involves a penalty.
What happens if I do not disclose voluntarily?
If the CRA discovers the issue first, you face gross-negligence penalties (up to 50% of the tax owing), full interest, and potential criminal prosecution for tax evasion under section 239 of the Income Tax Act.
How long does a VDP submission take?
Drafting takes 2–6 weeks for most cases. CRA review typically takes 6–18 months. Interest continues to accrue until the file closes, but penalties and prosecution are off the table once you have an acknowledgement letter.