A Richmond man failed to report almost $7.5 million in income from flipping homes and has been sentenced in provincial court to a conditional sentence and fines of more than $2.1 million.
Balkar Singh Bhullar pleaded guilty in August 2023 to one count of tax evasion under the Income Tax Act.
A Canada Revenue Agency (CRA) investigation showed Bhullar failed to report $7,485,246 in taxable income for the years 2011, 2012 and 2014.
The income was from assignment fees earned from flipping 14 properties between Jan. 1, 2011 and Dec. 31, 2014, thereby allowing him to evade $2,153,394 in federal Income taxes, according to a news release from the CRA.
Bhullar, who is 67 years old, was sentenced on Dec. 19 in B.C. Provincial Court (Robson Square) to a conditional sentence of two years less a day and a fine of $2,153,397.
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