Surviving the CRA’s Net Worth Audit
Navigating a Canada Revenue Agency’s (“CRA”) Net Worth Audit is a complex and stressful challenge for Canadian taxpayers, but with careful planning and...
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CRA Technology and Corporate Audits
The Canada Revenue Agency (the “CRA”) has significantly modernized its approach to auditing corporations. Rather than relying solely on manual reviews, the...
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Is the CRA Failing the Taxpayers? What Taxpayers Need to Know
What Taxpayers Need to Know (and How to Protect Themselves): A Report by the Office of the Auditor General of Canada. When Canadians call the Canada...
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Appealing a Corporate Tax Audit
When a corporation undergoes a Canada Revenue Agency (the “CRA”) audit, the outcome may result in reassessments, penalties, or additional taxes owing....
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What Is a T3 Trust Return and When Do You Need to File One?
If you are a trustee, executor of an estate, or a beneficiary involved with a trust in Canada, you may encounter the T3 Trust Income Tax and Information...
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Corporate Tax Audit Documentation
When the Canada Revenue Agency (the “CRA”) selects a corporation for an audit, one of the first steps is requesting supporting records. The quality,...
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Land Transfer Tax in Canada: What Buyers Need to Know
When purchasing real estate in Canada, many buyers focus on the price of the home but forget about a major additional cost: land transfer tax. This one-time...
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Corporate Tax Audit Red Flags
The Canada Revenue Agency (the “CRA”) uses advanced data analysis and risk assessment to decide which corporations to audit. While not every irregularity...
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