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Tax Solutions Canada Blog

Tax Tips for the Self-Employed

Canadian Income Taxes when you’re Self-Employed Being self-employed comes with many benefits. You can set your own hours, take on projects you want and, when it comes to income taxes, you might even be able to write off some of your expenses. However, while there are a lot of advantages,…

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When the CRA is Demanding Payment

What Should You Do if the Canada Revenue Agency Demands Payment? It’s usually a scary situation when the Canada Revenue Agency (CRA) contacts you demanding payment. There are many reasons why. One is that, if they’re getting in touch to ask for money, it might be a lot of money…

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What To Do If You Get a CRA Notice of Reassessment

How to Respond to a Notice of Reassessment You are responsible for providing correct information to the Canada Revenue Agency (CRA) when you file your tax returns. When the CRA completes its review of your submitted tax filing, it will send you a Notice of Assessment. However, the CRA can…

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What The Voluntary Disclosure Program Changes Will Mean

The Affect of Voluntary Disclosure Program Changes If you haven’t heard yet, the Canada Revenue Agency (CRA) is making Voluntary Disclosure Program changes that will seriously affect the future of the program. In June 2017, the CRA announced proposed Voluntary Disclosure Program changes and opened up online consultations regarding these…

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Do I Qualify for the New Residential Rental Property Rebate?

Qualifying for the New Residential Rental Property Rebate Owners and landlords of new residential properties may be eligible for a rebate on the GST/HST paid on the property. This is called the New Residential Rental Property Rebate (NRPR) and you must apply to receive this rebate from the Canada Revenue…

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Is House Flipping Considered Capital Gains or Business Income?

What Tax Do You Pay When You Flip a House? Flipping a house (buying a home, renovating it, and reselling it) can make you quite a lot of money, with the right renovations and in the right real estate market. However, unless a property is considered your primary residence, you’ll…

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Protecting Yourself Against “CRA” Scams

Be Aware of Scammers Pretending to be the Canada Revenue Agency It’s only natural that you might panic if you got a phone call from someone claiming to be from the Canada Revenue Agency saying you owe money. After all, the CRA is a powerful agency with broad collection powers…

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What is Tax Evasion in Canada?

Explaining Tax Evasion in Canada Tax evasion is when you do not file tax returns as you should, do not fully and accurately declare your income, when you hide income, or if you claim expenses and tax credits you are not entitled to. Canada Revenue Agency (CRA) auditors are required…

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Can You Negotiate with the Canada Revenue Agency?

Negotiating with the CRA If you owe tax debt and the Canada Revenue Agency (CRA) comes calling, the best step is to pay what you owe in full. The CRA will not forget about you. It may not have contacted you until this point but, now that it has, this…

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What is “Tax Fraud”?

Understanding Tax Fraud in Canada Tax fraud is purposely failing to disclose income in order to evade taxes or qualify for government-funded social benefits. Tax fraud can come in many forms. Not declaring income from record-free cash transactions can be consider tax fraud, as can not declaring all income, not…

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