I moved out of the downtown area of a major city and to a low income suburb, but I can't change my address with the CRA because their servers are perpetually down for maintenance... only when I try to change my address, though.
As near as I can tell it's Know Your Customer. It refers to the financial industry's obligations to collect personal information on all their clients. Maybe there were some big reforms in 2013? Dunno anything more than a quick search tells me.
I moved out of the downtown area of a major city and to a low income suburb, but I can't change my address with the CRA because their servers are perpetually down for maintenance... only when I try to change my address, though.
Can you explain this sentence and what it means for me please?
"If you KYC'd after 2013, you're done."
BTW, first hand experience that the CRA isn't this bright....yet
As near as I can tell it's Know Your Customer. It refers to the financial industry's obligations to collect personal information on all their clients. Maybe there were some big reforms in 2013? Dunno anything more than a quick search tells me.
Does this mean they’re starting to go after offshore accounts like the Canary Islands, Panama, etc?
Don't worry, not for politicians in the "correct" party.
I thought they audit middle class people, because they are least likely to fight it and more likely to pay up.
High income people will hire a lawyer if the CRA says they owe $100k, and fight hard.
Middle class people won't hire a lawyer if the CRA says they owe $2k, and just pay up.
So they audit 50 middle class people and make $100k, easy money.