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“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

What Canada's Underground Economy Tells Us About Our Tax System (The Audit)

One way or another, we’ve all been exposed to the underground economy. Whether it’s sending your kids to a “cash only” home-based daycare business, buying produce at a “pop-up” roadside farmer’s market, or not reporting taxable income from a basement apartment rental.

I’ve always avoided that approach to business. That’s not because I’m some kind of saint (or idiot). I hate paying taxes as much as the next guy. Instead, it’s because I don’t like exposing my family to risk. 

|Running an unlicensed (and, as a result, uninsured) daycare means that a multi-million-dollar liability is just a single unexpected accident away (along with child endangerment charges). Completing a home renovation without the necessary inspections can be deadly. And the CRA could make my life deeply miserable if I’m ever caught evading taxes ...

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