Hello,
SHORT VERSION OF MY QUESTION: I am under RAP since 2011. I had a low paying job so I made additional money under the table that I now want to declare to CRA via a Voluntary Declaration (amending my previous year's declarations). I wonder how does this affect RAP. I want to pay back everything I owe to CRA (if any - I didn't make that much, but certainly I would have received less tax credit). I also well suppose RAP would be reassessed, but I wonder if they will also consider that I made a VOLUNTARY disclosure and forgive me (as CRA would do) and not accuse me of fraud or anything. CRA informs you well how to amend your declaration but not the NSLSC...
You can stop here to answer the question but you are more than welcome to read more of the background.
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I have received RAP since I graduated in 2011 from Ontario. Moved to Quebec (started from zero) and struggled with french (now good) so I am stuck (but very slowly moving up) with very low income and health problems. I received the maximum from OSAP (no parents income nor support so..) and so my payments are quite high ($500/month) if I were not in RAP. I also have a HUGE credit card debt as I used it a lot while in school since OSAP wouldn't cover all my expenses not even with the part time job I had while studying (I worked little to keep an A average!).
Having said this, with my low income alone since I graduated, there's NO way I could come up with the money to pay student loan payments (even if
reduced by RAP), credit cards and living expenses so OBVIOUSLY I had to find more source of income. What I did is I shared my apartment since 2011 (but declared that I lived alone - mistake #1
) and had some job under the table since 2013 (mistake #2
).
I have been going through this money struggle without thinking the consequences working overtime for 3 years. Since I graduated everything has been decided on a "contingency plan" basis! This causes you to be ABSORBED and not have a minute to think of the consequences, specially if you have other priorities to pay attention to such as health problems that need that immediate attention
The problem comes now that I want to come forward, I am super scared and can't simply live with the idea that I will be audited by CRA and other government bodies. Please don't tell me that the chances are low, because even with that I still want to have my own peace of mind. I SERIOUSLY don't sleep now.
My situation is better now, and I have very interesting business plans that I am emerging into, which will set my status as self-employed very soon and that EQUALS more chamces for being audited. I don't want to be in the middle of my boom (if any
) and then CRA and Co. will come destroy me forever for all the wrongdoing since 2011.
I am able to repay back whatever to CRA and buddies!
I appreciate any extra advice but please answer the question. What's done is done
. I don't want to hear things such as: "why you took an Ontario loan and now you are in Quebec paying higher taxes without having taken advantage of cheaper tuition fees? You should have done it the other way around = Study in Quebec and go make money in Ontario!"
Thank you all!
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J