Quote:
Originally Posted by PeanutButter
Also, how does the CRA not catch more people who don't claim rental income? I know people who have not been claiming rental income EVER, this is like 40 years of not claiming rental income.
It seems pretty easy.
If I was a manager there, I would hire a programmer to create an algorithm that would compile all tax returns from a house and if the last names didn't match, they would be flagged. I would then look at the tax returns of the homeowners and see if there were rental income claimed on their taxes. If not, instant audit of the homeowner.
Sounds like an easy way to get hundreds of millions in rental revenue overnight.
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Nah CRA too busy auditing for your T2200 employee expense and tuition tax credits to go after these homeowners