The director of a real estate development firm has been found guilty on two counts of tax evasion.
Willi Isaak of Anmore, British Columbia, was also found guilty of one count of making false statements under the Income Tax Act, and one count of goods and services tax / harmonized sales tax (GST/HST) evasion under the Excise Tax Act.
He was sentenced to pay a fine of $23,100.
The Canada Revenue Agency says that Isaak was a director and 50% shareholder of Baarak United Enterprises Ltd., a real estate development company. He was responsible for the acquisition and subdivision of a 20-acre land parcel in the Village of Anmore, British Columbia.
The trial determined that Isaak willfully evaded the payment of tax, by failing to report taxable corporate and personal income totalling $181,902 for the 2009 and 2010 tax years.
Bank and accounting records revealed that several client payments for construction management fees and a BC Hydro refund related to the Anmore development were deposited into Isaak's personal bank account, and unaccounted for in Baarak's general ledgers.
He also failed to remit GST/HST collected from business operations during that period.
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