What Can I Claim as a Business Expense on my Taxes?

Claiming Business Expenses on your Income Taxes If you own a business, you likely know that you are able to deduct business expenses for tax purposes. According to the Canada Revenue Agency (CRA), you can deduct any “reasonable expense” that you paid or will have to...

When You Owe Money – CRA Collection Powers

How the CRA Collects Tax Debt If you owe money to the Canada Revenue Agency (CRA) you might think that this debt is just like any other debt. Unfortunately, this is not true. Unlike other creditors, the CRA has very strong and very broad powers that it can use to...

Canada Revenue Agency Looking Into PayPal Business Account Details

The CRA Orders PayPal to Provide Information About Business Accounts News broke recently that PayPal has been ordered by the Canada Revenue Agency (CRA) to provide information about its business account holders to the agency. PayPal received a Federal Court order...

Missed the Deadline to File a Notice of Objection? You Have Options

Extending Your Time to File a Notice of Objection Once you submit your income taxes to the Canada Revenue Agency (CRA) the agency will review them and then send you a Notice of Assessment. If the CRA later decides to reassess your taxes for any reason, it will send...