Canada Revenue Agency

Canada Revenue Agency

October 12, 2007 13:27 ET

Markham Accountant Fined $17,000 for Tax Evasion

NEWMARKET, ONTARIO--(Marketwire - Oct. 12, 2007) - Catherine Tsang, also known as Catherine Pui Chu Ning, an accountant from Markham, Ontario, was fined $17,000 today in Ontario Court of Justice in Newmarket. She was fined after pleading guilty to one count of tax evasion under the Income Tax Act.

A Canada Revenue Agency (CRA) investigation revealed that Ms. Tsang failed to report employment income totalling $101,833 on her 2003 and 2004 income tax returns. By doing so, she evaded paying $17,701 in federal income taxes.

The fine represents 96% of the income taxes that Tsang tried to evade. In addition to the fine, Tsang must also pay interest and any penalties that may be assessed by the CRA. She has 60 days to pay the fine.

Individuals or corporations who are convicted of tax evasion have to pay the full amount of taxes owing, plus interest, and any penalties the CRA assesses. In addition, the court may, on summary conviction, fine them up to 200% of the taxes evaded and sentence them to a two-year jail term. Under the Income Tax Act, the CRA may also assess a penalty of up to 50% of the taxes evaded or the benefit improperly claimed.

The information in this news release was obtained from the court records.

Further information on convictions can also be found in the Media Room on the CRA website at http://www.cra-arc.gc.ca/convictions/

Contact Information

  • Canada Revenue Agency
    Jelica Zdero
    Manager, Communications
    905-615-2126