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Getting audited by the CRA is normal.  Having to produce documents to support your taxes is normal.  Getting unfairly treated by the CRA is NOT! Sometimes you have to push to get things straightened out.  Here are some tips.  Make sure to get the team leader’s phone number.  All auditors report to a team leader.  All team leaders report to a section manager.  All section managers report to the director of audit for the specific office they work at.  If comes down to it, the director of audit reports to the director of the office.  The point of all this is...
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As mentioned in part 1 of this blog series, business audits are conducted by the CRA to ensure small and medium-sized businesses comply with the tax laws and fulfill their tax obligations. This 2nd blog will focus on what information the auditor examines during a business audit and what can happen after.  Let’s get started . . . What does an auditor examine during a business audit? The auditor will examine books and records, documents and information including: -       Information available to the CRA such as tax returns, credit bureau searches or property database information; -       Your business records such as...
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Business Audits are done by the Canada Revenue Agency to promote compliance and help maintain public confidence in the fairness and integrity of our tax system. During a business audit, the CRA examines books and records of small and medium-sized businesses to ensure that they are fulfilling their tax obligations and applying tax laws correctly. If you have been selected for a business audit by the CRA, there are a number of things you should know going in. First thing you should know when you have been selected for a business audit is that you should never go at it alone. ...
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I know I complain a lot about the CRA being stupid (get over it. It’s true). That said they are not morons. There are many people out there who just don’t understand their finances and taxes and that is ok, but you MUST have a basic understanding or you will end up in trouble, the type of trouble that involves the CRA performing a colonoscopy on you and your bank account (without an anesthetic or lube). Personal Taxes 101 If as an individual or proprietor (corporations are different ) you are losing money from operating a real business (not those amway,...
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