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Clients ask us all the time how audits are triggered. This is a common question because each year thousands of Canadian taxpayers are audited, leading to hours of frustration, mountains of paperwork, tax debts and exorbitant penalties. It is true that there is definitely a short list of behaviours that…
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If you have had your bank account frozen by CRA through a Requirement to Pay and are wondering how they found out where you bank, well it is far easier then you may think. Here are the top 3 ways that CRA can find out where you bank: Through your…
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CRA agent’s job includes checking that the information you have provided and filed on your return is accurate. Put differently, this means trying to catch taxpayers who make mistakes or are tax cheats. Triggers to CRA increasing their level of scrutiny include: Late filing Increasing unpaid balances Major changes in…
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With the arrival of 2014, what would be better than starting the New Year on a fresh financial foot. This may be easier said than done if you have a large tax cloud hovering over your head. Knowing that you have undeclared income, are behind filing returns, or simply owe…
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