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PricingService areasAll services →Voluntary Disclosure in Markham
Voluntary Disclosure in Markham
CPA-led voluntary disclosures for Markham families, tech workers and companies with unreported foreign income, assets or missed filings.
- CPA-led by Wajahat Ajmal, CPA, FCCA (verify on CPA Ontario)
- Price matching, when agreed before you sign our proposal
- No surprise bills: the price is fixed before we start
- We reply mostly within one business day
- 24/7 receptionist, a real person answers
- Basic QuickBooks Online and Dext included when you move to a monthly plan
Voluntary disclosure for Markham taxpayers
Many Markham residents have family ties, investments or property outside Canada, and many tech companies pay overseas staff and contractors. That makes foreign reporting the most common disclosure we prepare here: foreign bank accounts and property over $100,000 never reported on a T1135, overseas rental income, and foreign investment income. Penalties for missed T1135s add up quickly, but a voluntary disclosure normally removes them.
I’m Wajahat Ajmal, CPA, FCCA. T-Ledgers is a CPA-led accounting firm practising since 2020; we serve Markham clients online and by appointment at our Etobicoke and Mississauga offices.
Markham applicants we see: newcomers and families with assets abroad, employees with foreign stock or crypto accounts, and corporations behind on T2s or GST/HST.
Common Markham disclosures
← Swipe to compare →
| Situation | How a disclosure handles it | Official source |
|---|---|---|
| Foreign bank accounts or property not on a T1135 | T1135 is required above $100,000 of cost; foreign items need ten years of documents in a disclosure. | CRA: T1135 foreign reporting |
| Foreign investment income | Interest, dividends and gains abroad are taxable in Canada for residents. Foreign tax paid is usually credited. | CRA Information Circular IC00-1R7 |
| Unfiled corporate GST/HST | GST/HST disclosures cover four years of periods. | GST/HST Memorandum 16-5-1 |
See also: CRA: changes to the VDP.
A typical Markham disclosure
An illustrative example (not a client story). A Markham couple who moved to Canada in 2018 kept savings and a rented apartment in their former home country. They never filed T1135s or reported the rent and interest. We collect statements for each year, convert to Canadian dollars, calculate foreign tax credits, and file T1 adjustments and T1135s with one unprompted application.
Markham business owners can find free start-up and grant advice at the Markham Small Business Centre; grants received in prior years should also be checked during a disclosure.
For Markham tech workers, the most common gap is stock compensation from a foreign parent company: shares vested, sold or held in a foreign brokerage account and never reported in Canada. We match the vesting and sale records to each year’s return.
Relief under the current VDP
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| Application | Penalty relief | Interest relief |
|---|---|---|
| Unprompted (no CRA contact about the issue) | ✓100% | ✓75% |
| Prompted (after a CRA letter naming the issue) | ✓Up to 100% | ✓25% |
Rates are for applications received on or after October 1, 2025. You still pay the tax, and an audit already started on the issue closes the door.
What we do
- Missing years rebuilt and corrected returns prepared
- RC199 filed as your representative
- Payment or payment arrangement arranged
Full catch-up detail is on our main catch-up bookkeeping page.
Law and policy: Income Tax Act s.220(3.1) (waiver of penalties and interest); Excise Tax Act s.281.1 (GST/HST relief); CRA Information Circular IC00-1R7; GST/HST Memorandum 16-5-1; Form RC199.
Voluntary disclosure pricing in Markham
← Swipe to compare →
| Item | Price |
|---|---|
| VDP application | Quoted after a free review |
| Catch-up bookkeeping for missing years | ✓From $1,800 per year, GST/HST returns and T2 included |
| Personal T1 returns | Quoted separately |
CAD, plus HST/GST. See plans and pricing.
We don’t have a Markham office; meetings are at our Etobicoke or Mississauga office, by appointment.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 14, 2026. Official sources checked October 2026.
Voluntary disclosure in Markham: FAQs
Do I need to disclose foreign accounts I already pay tax on abroad?
The income is still taxable in Canada, and the T1135 is required if the cost is over $100,000. Foreign tax paid is usually claimed as a credit.
Is crypto held on a foreign exchange reportable?
Often, yes, as specified foreign property for T1135 purposes, and gains are reportable. We review the holdings before deciding what to disclose.
How many years will the CRA ask for?
Ten years for foreign-sourced income or assets, six for Canadian, and four for GST/HST, though the CRA can ask for more.
How much does a voluntary disclosure cost in Markham?
It is quoted after a free review based on the years and accounts involved.
Can I object if the CRA refuses relief?
There’s no objection right, but you can ask for a second administrative review and then apply to the Federal Court for judicial review within 30 days.
Ready to get caught up?
Whether you’re three months behind or three years, the first step is the same: a free 30-minute call. We’ll look at where things stand, tell you honestly what it will take, and send a fixed price, mostly within one business day. If you have a comparable written quote, show it to us before you sign and we’ll match it.
Call (866) 254-5368 or email info@tledgers.ca. A 24/7 receptionist answers, so a real person picks up.