AMHERST – An Amherst lawyer, who lives in Moncton, has been fined $27,990 after pleading guilty to tax evasion charges in provincial court in Moncton on Thursday.
Martin James (Jim) O’Neil has until Nov. 1, 2013 to pay the fine.
The charges arose from the operation of O’Neil’slaw office in Amherst. A Canada Revenue Agency investigation revealed that O’Neil failed to remit harmonized sales taxes of $27,990 charged to his clients between Jan. 1, 2005, and June 30, 2007.
When individuals are convicted of tax evasion, they must still repay the full amount of taxes owing, plus interest and any civil penalties that may be assessed by the CRA.
In addition, the court may fine them, upon summary conviction, up to 200 per cent of the taxes evaded and impose a jail term of up to two years.
Taxpayers who have not filed returns for previous years, or who have not reported all of their income, can still voluntarily correct their tax affairs. They may not be penalized or prosecuted if they make a valid disclosure before they become aware of any compliance action being initiated by the CRA against them.
These taxpayers may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program can be found on the CRA's website at www.cra.gc.ca/voluntarydisclosures.