Stratford businessman, James Moffatt, appears in court
© Guardian photo
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.