by Jason RosenHow do I file Last Years’ Tax Return?
For one reason or another, your last years’ tax return was not filed . The longer it remains un-filed, the more penalties and interest that will...
by Jason RosenHow to Calculate CRA Penalty and Interest
If you have a balance owing for a tax year, the Canada Revenue Agency begins charging compound daily interest on May 1st of that year. The interest i...
by James PendergastWhat is the CRA Reassessment Period?
The CRA Reassessment Period is the amount of time the Canada Revenue Agency is allowed to adjust a personal, corporate, GST/HST, or payroll return. Ea...
by Jason RosenWhat Can the CRA Require me to Pay?
What Happens if you Owe Money to the CRA? It is important to know that if you are unable to pay the full amount that you owe to the Canada Revenue Age...
by Jason RosenWhat are the Penalties for Tax Evasion?
What is CRA Tax Evasion? The Canada Revenue Agency states that an individual or business engages in tax evasion when they intentionally ignore Canada...
by James PendergastHow Far Back Can CRA Audit?
The Difference Between a CRA Audit, and a CRA Review The Canada Revenue Agency (“CRA”) has two options when looking at reassessing or adjusting ta...
by James PendergastWhat is a Taxable Benefit?
What is a Taxable Benefit? A taxable benefit is a benefit that a taxpayer receives, typically paid for by a corporation, that is more related to perso...
by James PendergastTuition Tax Credits
The Tuition Tax Credit The tuition tax credit (“TTC”) is a non-refundable tax credit that helps Canadian students who are currently attending, o...by Jason RosenCRA Penalties and Interest
The Canada Revenue Agency (“CRA”) can charge interest and penalties for a variety of reasons. Perhaps more worrisome is the alarming rate that pen...
by Jason Rosen