What’s the penalty for false statements or omissions ?

You may have to pay a penalty if you, knowingly or under circumstances amounting to gross negligence, made a false statement or omission on your 2023 return.

The penalty is whichever amount is more :

• $100
• 50% of the understated tax or the overstated credits (or both) related to the false statement or omission

Check for more information here at the CRA website: False reporting or repeated failure to report income - Personal income tax - Canada.ca (opens in a new tab)