Social media is a great place to post pictures of your food or prove that you’re the only one with an opinion on Jay-Z’s failing Tidal music streaming service.
It is not, however, a good place to boast about your recent flirtation with tax evasion.
“You’re seeing some stock brokers bragging on social media about how successful they’ve been taking the $10,000 or whatever they’ve put into TFSAs and turning it into $100,000 based on speculative stock trades and I think to myself – you idiots!” says James Rhodes, a Waterloo-based tax lawyer. “If I was an auditor I’d be printing their comments out and using it to create an audit link and send an auditor on them.”
The catch is – the Canada Revenue Agency can do just that. After all, anything in the public record is fair play, CRA spokesperson Jelica Zdero told Yahoo Canada in an email response.
“The Canada Revenue Agency does not disclose the specific tools and methods used during an audit or criminal investigation,” she writes. “However,Read More »from Can the CRA use your social media accounts against you?