It is Reassess First, Ask Questions Later Era at CRA

There is a trend taking place in the last twelve months.  The number of CRA reviews that I am dealing with have increased noticeably.  Many of these reviews are not for an earth shattering amount of GST or income taxes being reviewed.  They are what I would call random audits to see if the taxpayers randomly chosen are being honest

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Why a Real General Ledger is the First Line of Defense During a CRA Tax Audit

Many mature businesses have endured this at least once during their life time – a CRA tax audit.  Most businesses survive an audit with no issue.  This happens when the business has an adequate set of financial records that is easy for the CRA auditor to examine.  So what makes up an adequate set of financial records. First of all,

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Know Your Tax Laws, Keep Your Receipts, Document Your Activities

The past year, I have noticed quite a few more requests from CRA to review medical expenses, donation receipts, and HST returns filed. The best thing for a business owner being audited is that they have been honest with their tax affairs. The second best thing is for the business owner to have a competent professional Vancouver accountant to assist

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