Contractor fined for tax evasion
CBC News
Posted: Dec 6, 2012 4:29 PM NT
Last Updated: Dec 6, 2012 6:56 PM NT
A building contractor in St. John's has been fined more than $93,000 after pleading guilty to tax evasion.
The Canada Revenue Agency (CRA) said Michael Searle was a self-employed contractor for 10 years, who set up a business to buy land, and buy and sell homes.
The CRA said Searle followed proper protocol for setting up his business, but failed to report any business activity on his income tax returns.
The agency said Searle was operating in what they described as "the underground economy."
Searle has three years to pay his fine.
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