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Tax Solutions Canada Blog

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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Why You Should File Your Taxes Even If You Have Missed The CRA Tax Deadline

This is the time of year when many Canadians, especially small business owners, find themselves scrambling to get themselves organized for the CRA tax deadline. As long as you are scrambling, it is a good sign because it means that you are committed to getting your taxes filed by the…

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How Can I Get Taxpayer Relief?

If you have a tax debt then there is no doubt that you have thought about how you can get taxpayer relief (in other words treated fairly by CRA [Canada Revenue Agency] in a way that you can do the right thing and survive). There are different ways to get…

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What is a CRA Requirement to Pay?

A CRA Requirement to Pay is a very powerful enforcement action that the CRA uses to collect a tax debt or to motivate a taxpayer to file a past due return. With no advance warning to you, the CRA sends a Requirement to Pay Notice to any of the following…

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The 2012 Canadian Tax Deadline is Quickly Approaching – Are You Ready?

The 2012 Canadian income tax filing deadline is almost here. April 2013 is the Canadian tax deadline for your 2012 personal income tax return. If you are operating a business in Canada the Canadian tax deadline for businesses is June 15th, 2013. But if you are going to owe taxes…

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How to Get Rid of CRA (Canada Revenue Agency) Interest and Penalties

Many, many Canadians struggle with tax debt, so if you are one of them, you are not alone. When you have a tax debt that resulted from a late tax filing(s) or a re-assessment of a misfiled return or taxes owed from an audit of a past return, CRA interest…

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