Failure to file income tax returns results in $5,000 fine

Ryan Ross
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Stratford businessman, James Moffatt, appears in court

Prince Edward Island provincial court

The owner of a Stratford business has to pay $5,000 in fines after failing to file several years worth of tax returns for the company.

James Moffatt Williams appeared before Chief Judge Nancy Orr in provincial court in Charlottetown Wednesday where he pleaded guilty to five charges.

He pleaded not guilty to several counts of not filing his personal income tax returns and will go to trial on those charges on Feb. 26.

Williams is the owner and sole employee of Moffat Capital Inc.

The court heard the company incorporated in 2007 and hadn't filed any returns since.

In July 2014, a Canada Revenue Agency investigator served the company with notice requiring Williams to file returns for the years 2008-2013.

Williams said he'd had three heart attacks and operations for cancer during those years.

After CRA served him with notice, Williams filed a return for 2008 that showed $366,800 in gross revenues for that year.

He wasn't prosecuted for filing that return late.

Williams told the court he planned to send the rest of the necessary paperwork to his accountant within a week.

He also said his depression was the reason for the delays and he hasn't been working for several months.

Orr ordered Williams to file his outstanding income tax returns by April 4.

Organizations: Canada Revenue Agency, Moffat Capital

Geographic location: Stratford, Charlottetown

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Recent comments

  • Patti Smith
    February 09, 2016 - 17:30

    Not making light of anyone suffering depression or other medical conditions, but I find it interesting that depression didn't slow him down on other "deals". I saw this company mentioned on Kijiji for some questionable activities.

  • Stan Hope
    February 05, 2016 - 09:05

    Tax Man always gonna catch up with ya ... even brought down Al Capone .

  • Regular Joe
    Regular Joe
    February 05, 2016 - 06:23

    Ya doing a tax return every year can be very depressing but the rest of us manage to handle it .