I have also seen many get dinged by the tax man many years, even decades later, because they do not know how to declare their income. You are not going to get a loan based on a small declared income. Many SPs will only delarre 30K because they don't want to go through the trouble of declaring, GST, TVQ, etc.. Try getting a loan on a 500K condo with a taxable income of 30K. They get greedy, stick shit in a sock, or safety deposit box and get not interst, stock dividends etc.. They are mostly short sighted financially. A Swiss bank does not look at foriegn deposits of less than 1,000,00 francs. Other countries range from 250K to 500K US. They are mostly not finacially sophisticated to launder and movemoney like that without the government getting a whiff. They will aslo randomly check people with houses and no offical income to support it. A few of course do understand the game, but very few. The ones who say they do don't really. They lie to us and eventually to themselves.