WeirFoulds Lawyers Recognized in the 2018 Canadian Legal Lexpert® Directory

Glenn W. Ackerley, Raj Anand, Sandra Astolfo, Denise Baker, Lisa A. Borsook, Clare E. Burns, Jeff G. Cowan, M. Jill Dougherty, Lori M. Duffy, Robert Eberschlag, Bryan Finlay QC, Jordan Glick, Nikiforos Iatrou, James G. Kosa, Barnet H. Kussner, W. A. Derry Millar, J. Gregory Richards, Max […]

Panama Papers and Offshore Accounts: Window of Opportunity to Make a Voluntary Disclosure Closing

Canadian residents are required to report worldwide income. Furthermore, Canadian residents are generally required to annually file a special information return for any year that they held, at any time in that year, “specified foreign property” that had a cost exceeding $100,000. A failure to report such income or file any such return makes the Canadian resident liable to significant penalties (for which interest accrues daily) and potentially open to criminal prosecution.