CALL TODAY 1-888-868-1400

Download our FREE eBook

Learn about the different methods that many Canadian individuals and businesses have leveraged to successfully reduce or eliminate penalties and interest owing on their tax debts.

Download Now

Blogs posted during June 2015

CRA Call Centre Advice Is Incorrect 25 Per Cent of the Time

If a taxpayer has a tax question, it stands to reason that the Canada Revenue Agency would best know the answer, but according to a recent CBC report, business owners who sought tax advice from the Canada Revenue Agency helpline were given incorrect information 25 per cent of the time.…

...

Read More

Everything You Need to Know About Asking CRA for Taxpayer Relief

When the Canada Revenue Agency (CRA) assesses you with interest and penalties, it is their procedure that they apply to every late payment and return. As can be expected, this broadly applied rule is often unfair to the taxpayer. CRA, despite their reputation as very aggressive and difficult to deal…

...

Read More

Undeclared Offshore Holdings? Foreign Assets Becoming Easier to Find For the CRA

This past week, Canada signed the Multilateral Competent Authority Agreement on the Automatic Exchange of Information (MCAA), becoming part of a global coordinated effort to exchange financial account information efficiently and securely with other tax jurisdictions. Under the MCAA, foreign tax authorities will provide information to the Canada Revenue Agency…

...

Read More

Attention Sole Proprietors/Self-Employed: Your Income Tax Deadline is Approaching – Tips for Getting Organized

June 15 is the filing deadline for those who have income other than from “T”-slips (for the most part those who are not employees or pensioners). Bigger businesses have in-house accounting departments and accountants, controllers and CFOs to worry about these matters. Employees have their T4s and file online –…

...

Read More

6 Ways to Get Your Voluntary Disclosure Application Rejected

If you know that you have undisclosed or incorrectly disclosed information on a tax return, or have not filed a return, you may be eligible for the Voluntary Disclosure in order to avoid penalties, interest, and even prosecution – but this is a complex process requiring expert guidance – you…

...

Read More