Canada Revenue Agency: Newmarket Resident Fined $5,000 for Failing to File GST Returns

NEWMARKET, ONTARIO--(Marketwire - March 4, 2011) - The Canada Revenue Agency (CRA) announced on February 24, 2011, that Michael Rudolf Loew, of Newmarket, pleaded guilty in the Ontario Court of Justice in Newmarket, to five counts of failing to file Goods and Services Tax (GST) returns. Loew was fined $1,000 per count, for a total of $5,000. The fines must be paid within 12 months.

As sole proprietor of King's Windy Fields, a horse-breeding operation, Mr. Loew failed to file GST returns for quarterly periods from July 2007 to September 2008. The CRA made several requests for the missing returns before serving Loew with notices demanding that the returns be filed. Failure to comply with these notices resulted in charges being laid. Loew filed the outstanding returns after the CRA laid charges. 

The preceding information was obtained from the court records.

Individuals 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 will not be penalized or prosecuted if they make a valid disclosure before they become aware of any compliance action being initiated by the Canada Revenue Agency (CRA) against them. These individuals may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program (VDP) can be found on the CRA's website at www.cra.gc.ca/voluntarydisclosures.

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

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Newmarket resident, Michael Rudolf Loew, pleaded guilty on February 24, 2011 to 5 counts of failing to file Goods and Services Tax Returns. As sole proprietor, Loew failed to file GST returns for King's Windy Fields, a horse-breeding operation. He was fined $1,000 per count for a total of $5,000.

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