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Tax Solutions Canada Blog

How to Make a CRA Payment Plan

Most people don’t set out to not pay their taxes. Disputes with CRA, financial problems, issues with businesses, etc. are all reasons why people end up with a tax debt that they have not and cannot pay in full immediately. If you have been contacted by the Canada Revenue Agency…

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Does Tax Amnesty in Canada Really Exist?

When you file your taxes on time, accurately, every year, you likely don’t suffer from the stress that tax compliance issues can bring. However, if you are one of the many Canadians that fall behind filing or find expenses or donations disallowed resulting in large penalties and tax debt, that…

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What is a Notional Assessment or a CRA Tax Assessment?

With the Canadian income tax deadline behind us, those who, for whatever reason, chose not to file this year (or any past year) may be thinking that it is too late and that there is no real urgency to file now. Many people don’t file their annual tax returns because…

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Does the CRA Actually Prosecute People for Tax Evasion?

People often ask “does the CRA actually prosecute people for tax evasion.” Scarily, it happens all the time and convictions are actually posted on the CRA website. Here is a great example of a man who owned a viable business and let his tax problem get out of control, resulting…

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Be Careful Who You Hire to Deal with Your Tax Problem

In March of 2013 the CRA reported on their website that a Brampton tax preparer who they had prosecuted was sentenced to house arrest for a tax fraud scheme. From 2005 to 2010, Adegboyega Adenekanad Adebukunola (whom we will refer to in the rest of this blog as AAA) operated…

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The CRA Financial Disclosure Form – An Invitation From Your Enemy to Shoot Holes in Your Own Feet.

The CRA financial disclosure form is a dangerous form that the CRA routinely sends out. If one is provided to you by the CRA, it might be time to acknowledge that they are getting ready to take collection action against you (if they haven’t already). The CRA financial disclosure form…

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CRA Can Make You Pay Another Person’s Taxes! Say Hello to Section 160 of the Canadian Income Tax Act

Hopefully as a spouse, family, friend or business associate you never get a letter that goes like this: “Dear Mr./Ms. “X”, you received an asset from a taxpayer who knew or ought to have known he/she owed money at the time you paid less than full market value for the…

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Tax Slips – The CRA Knows More Than You Think

Every time you receive a tax slip, the issuer sends a copy to Canada Revenue Agency (CRA).  So just because you don’t report your income, whether it was taxed or not, does not mean that the CRA is not aware of it. These tax slips are issued for employment income,…

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Beware – the CRA Snitch Line is Not a Myth

The tax deadline is behind us, and even though you may have filed your returns online, there is always a chance that you incorrectly claimed expenses or miscalculated earnings. These can be remedied through various tax solutions like the Voluntary Disclosure Program, which, for example, allows you to amend and…

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What is Tax Amnesty in Canada?

What is tax amnesty in Canada? Tax amnesty is when the government allows a taxpayer to declare income or amend a mistake on a past return and agrees to accept a defined amount, and in exchange for this disclosure agrees not to charge the taxpayer penalties or to prosecute (as…

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