by Jasmeen SinghThe Power and Limits of CRA Collections
The Income Tax Act grants extensive powers to the Canada Revenue Agency (CRA). The CRA is not your average creditor; they have a variety of tools for ...
by Ryan RobertsonOffshore Bank Accounts and the Voluntary Disclosure Program
If you have an offshore bank account that holds more than $100,000 CDN, or many bank accounts that total $100,000 CDN, the Canada Revenue Agency wants...
by Mariya ZekelWhat is the Statute of Limitations on CRA Debt?
The statute of limitations or limitation period on Canada Revenue Agency debt is anywhere between 6 to 10 years and it depends on the type of debt tha...
by Mariya ZekelWhat is a Clearance Certificate for an Estate?
A Clearance Certificate is a certificate that is issued by the Canada Revenue Agency (CRA) and confirms that all amounts owing to the CRA by a decea...
by Jasmeen SinghFiling a Taxpayer Relief Application with RC4288
Have you been charged penalties or interest on an outstanding debt owing to the Canada Revenue Agency (CRA)? Many people find that themselves in thi...
by Avery KalpinWhat is Specified Foreign Property?
Specified Foreign Property are assets held outside of Canada. The threshold for reporting to the CRA on a T1135 form is if the property that you have ...
by Jasmeen SinghHow to Survive an Audit
The thought of being audited is dreaded by most taxpayers. This fear stems from being unprepared. Often, tax returns are mismanaged, receipts are lost...
by James PendergastWhat is a T2125 Statement of Business or Professional Activities?
A T2125 form is a schedule that goes along with a tax return, and it lists income, and expenses where taxpayers operate certain types of businesses. T...
by Jason RosenAre Maternity Leave Payments Taxable?
Maternity and Parental benefits are a form of Employment Insurance (EI) which provide financial assistance to people who are away from work because th...
by James Pendergast