What 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...
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What 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’s...
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How 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 tax...
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What 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 personal...
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Tuition 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, or...
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CRA 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 penalties and...
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Tax Audits and the Reasonable Minimum Standard
Anyone who has been audited will tell you about the amount of time they spent compiling receipts, bank statements, and other documentation to refute...
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Principal Residence Audit
A Principal Residence audit occurs when the Canada Revenue Agency audits a taxpayer for the sale of one, or multiple properties where no taxes are paid. No...
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