The Tax Audit Process and the Importance of Good Audit Support

So you received either the dreaded phone call or brown envelope from the CRA announcing that you have been selected for an audit – not the best of days but all is not lost.  This is definitely not a “do-it-yourself” type of situation.  The stakes are far too...

Directors’ Liability Tax Assessment

Directors of a corporation can personally be held liable for the corporation’s failure to withhold and remit taxes from certain payments, including payments of salary and dividends, interest and rental payments to non-residents. In the case of failure to withhold, the...

Overview of CRA Penalties and Interest for Income Tax and GST/HST

The Canada Revenue Agency (CRA) has many requirements which all taxpayers (individuals and companies) must abide by.  There are deadlines and due dates for filing income tax and GST/HST returns. There are due dates for payments to the CRA, both for balances owing and...