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PricingService areasAll services →Voluntary Disclosure in Oakville
Voluntary Disclosure in Oakville
CPA-led voluntary disclosures for Oakville professionals, investors and holding companies correcting investment income, foreign 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 Oakville taxpayers
Oakville disclosures usually involve investment income rather than unreported sales: a holding company that never filed, a U.S. brokerage account or rental condo missing from the T1135, or dividends and capital gains that were left off a return. These are often honest mistakes made by people who assumed a bank or adviser handled the reporting. A voluntary disclosure corrects them with penalties normally waived.
I’m Wajahat Ajmal, CPA, FCCA. T-Ledgers is a CPA-led accounting firm practising since 2020; Oakville clients work with us online or at our Mississauga office.
Oakville applicants we see: professionals with corporations, retirees with foreign pensions or U.S. property, investors with foreign brokerage accounts, and families with inactive holding companies.
Common Oakville disclosures
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| Situation | How a disclosure handles it | Official source |
|---|---|---|
| U.S. brokerage accounts or Florida property | Specified foreign property over $100,000 needs a T1135; a personal-use vacation home is generally excluded, but a rental property isn’t. | CRA: T1135 foreign reporting |
| Holding company that never filed | Every resident corporation must file a T2 each year. We file the missed years with the application. | CRA Information Circular IC00-1R7 |
| Investment income missed on T1s | Unreported income is VDP-eligible if there is tax owing. | CRA: who is eligible for the VDP |
See also: CRA: changes to the VDP.
A typical Oakville disclosure
An illustrative example (not a client story). An Oakville retiree has rented out a Florida condo for six years and holds a U.S. brokerage account. U.S. tax was paid on the rent but nothing was reported in Canada. We prepare T1 adjustments with foreign tax credits, T1135s for each year, and an unprompted disclosure with payment of the remaining Canadian tax.
Oakville owners starting a new venture after cleaning up can use the free Halton Region Small Business Centre on Bronte Road.
Oakville professional corporations sometimes disclose too: personal expenses run through the clinic or practice, or dividends paid to family members that should have been reported differently. We correct the corporation and the shareholders together so both sides of each transaction match.
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 Oakville
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| 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.
Our nearest office is in Mississauga (100 Matheson Blvd E, Suite 204); meetings are by appointment.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 14, 2026. Official sources checked October 2026.
Voluntary disclosure in Oakville: FAQs
Does my Florida vacation home need a T1135?
Not if it’s used primarily for personal purposes. If it’s rented out, it is generally specified foreign property.
My holding company hasn't filed in years. Can it use the VDP?
Yes, if there is tax, interest or penalties owing. Missed years with no tax owing are usually filed directly instead, unless late information returns (such as a T1135 or T106) could attract penalties (ITA s.162(7)); those years can go in the disclosure.
Is a refund-only year eligible for the VDP?
No. Applications that only result in a refund aren’t eligible; those returns are simply filed.
How much does a voluntary disclosure cost in Oakville?
It is quoted after a free review based on the years and returns involved.
Does a VDP stop the CRA from auditing me later?
No. The CRA can still audit, and if fraud or misrepresentation is found it can reassess any year.
Can a professional corporation use the VDP?
Yes. Corporations, including professional corporations, can apply. Where the shareholders’ returns are affected too, we prepare their applications at the same time.
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.