Six rental properties and an automobile have been seized by the CRA following charges for tax evasion against two Ottawa individuals.
The pair - Chi Van Ho (Ho) and Thanh Ha Thi Nguyen (Nguyen) – were charged under the Income Tax Act for allegedly under-reporting their income by more than $3 million, resulting in more than $500K in unpaid tax.
Ho and Nguyen are the listed shareholders, directors and/or corporate officers in multiple corporations in the business of residential and commercial real estate rentals and property renovation and development.
Warning to others
The seizure of the properties is the first time the CRA has used proceeds of crime action in a tax evasion investigation.
The CRA says this is another of the more serious and complex investigations it is taking on and that while investigations take time, it is committed to act on all serious non-compliance.
For the five-year period of April 1, 2013 to March 31, 2018, the courts have convicted 307 taxpayers. Involving $134 million in federal tax evaded and court sentences totaling approximately $37 million in court fines and 245.75 years in jail.