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AUDIT GONE BAD?

So, you believed that if you were a good citizen, were forthcoming with information, and were nice to CRA, that you would be OK. You believed that you would be treated fairly, but now realize that you were led to the guillotine. And now CRA wants to chop of your...

GST TAX AUDIT PROBLEMS

GST Tax Problems are Serious, and CRA reaps some serious money in GST audits Businesses are required by law to verify that a supplier’s GST number is valid. It may be unfair to a business that pays the GST and in good faith relies on an invoice. However, the courts...

HOW LONG SHOULD AN AUDIT TAKE?

The Auditor General’s Report on Timelines The Branch is working to improve timeliness. 6.31 Over the last few years, the Agency has emphasized shortening the length of time it takes to resolve an objection. Timeliness goals set by the Branch were met in over...

NET WORTH AUDITS AND NET WORTH ASSESSMENTS

Net Worth Audits are Incredibly Dangerous to Taxpayers! We have a serious concern about this new mandate by CRA to focus on Net Worth Audits. This is a serious game they are playing. It is now part of a regular audit to fill out a form at the end of a normal audit...

AUDIT TRIGGERS

The most common tax traps Keeping audit-ready books, while straightforward, can seem burdensome to produce all the required documentation. Just remember that an audit is the process of eliminating business deductions! There are numerous items and conditions that an...

CRA RISK MANAGEMENT

CRA uses Risk Management to deal with notices of objection and with appeals Canadians need to be aware of the internal workings of the tax department. The CRA Agency and the departments of Finance and Justice have adopted, and are implementing, a strategy for managing...
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