Increased measures are helping the government collect more money from potential tax cheats. We see a closeup of the top page T-1 general tax form with the corners of two other parts of the form underneath it. And we see a hand holding a pen signing the top square. So far, all that's written in "Jen."

Increased measures are helping the government collect more money from potential tax cheats.
Photo Credit: CP Photo / Chris Young

Revenue Canada measures snaring more tax cheats

A beefed up crackdown on tax cheats is apparently paying off for Revenue Canada.

The Globe and Mail reports that enforcement measures announced in the 2013 federal budget have netted almost three times what the department originally expected.

The 2013 budget estimated that about $550 million in additional revenue would be collected by 2014-15.

According to the Globe, the Canadian Revenue Agency says the measures netted $1.57 billion–at an estimated cost of $15 million over five years.

Earlier this month, Minister of National Revenue Diane Lebouthillier upped the ante, announcing that the CRA was hiring 100 more auditors to target tax cheats.

She said the strategy is aimed at rooting out high-risk wealthy Canadians and corporations that stash cash in offshore accounts to avoid taxes.

In the year’s budget, the government announced it would spend about $444 million over five years for the CRA to boost enforcement.

It forecast a revenue gain of $2.6 billion over those five years as a result of the measures.

Since January, the Canada Revenue Agency has been collecting information on all transfers of international funds over $10,000.

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