The Canada Revenue Agency (CRA) is squeezing voluntary disclosures while they are currently undergoing a tax evasion crackdown. The CRA is no longer going to allow Canadians to benefit from financial relief when they disclose income left off of tax returns that involve money from sophisticated tax-avoidance strategies or offshore dealings. Starting in March, the federal agency will restrict incentives previously offered for disclosure of unreported income.

Read more: CRA squeezes voluntary disclosures amid tax-evasion crackdown