In 2010, Canada Revenue Agency auditors unearthed a scheme they called a “sham” that ultra-rich Canadians were using to dodge taxes. But previously unreported court records obtained by CBC’s The Fifth Estate and Radio-Canada’s Enquête show it didn't stop then. Some taxpayers continued to exploit the tax dodge for several years without officials realizing.
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Before they halted their Isle of Man probe in 2016, members of Parliament on the finance committee learned the KPMG scheme was not only marketed to ultra-rich Canadians as a way to dodge taxes, but also as a way to keep money from potential creditors.
An internal KPMG document, obtained by the finance committee, showed that the accounting firm promoted their scheme as a way for their wealthy clients to protect their assets offshore. There was nothing [a] creditor/ex-spouse etc. can claim,
KPMG said it would charge its clients a minimum of $100,000 to buy into the scheme, including factoring in a percentage of the amount of taxes saved by the wealthy Canadians.
What happens next? Hughes said filing a complaint is just the first step. “Justice requires a proper investigation to take place,” he said, “and that just takes time.” “Ariana is aware that the wheels of justice turn slowly and that outcomes doesn’t always turn out the way we might like.” Meanwhile, Ariana and her three siblings continue to grieve the loss of their beloved father, who was a 51-year-old immigrant from Mexico. Ariana says she and her family recently realized that their dad would want them to do everything they can to make sure something like this never happens again. (Image credit: Justin Pennell/CBC)
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