News and Insights

CRA Guide RC4406, “Will you do it for cash?”

Tax Development Jan 29, 2008

The Canada Revenue Agency has released this guide to inform contractors and consultants that make supplies for cash that these supplies are subject to GST/HST and that these supplies should be reported on their income tax returns. This guide also discusses that a failure to collect tax or report the income on these transactions is tax evasion, which has serious consequences.