Audits

The New CRA Gig Economy Rules The Canada Revenue Agency (CRA) has introduced new rules that require digital gig economy platforms, such as Uber, Lyft, and DoorDash, to report income earned by their workers. CRA is trying to ensure tax compliance within the rapidly growing gig...

Disagreements with the Canada Revenue Agency (CRA) can arise from audits, reassessments, or penalties. Whether it’s a personal tax issue or a business-related matter, CRA disputes can be stressful and complex. Without expert guidance, you may face significant financial and legal consequences. COMMON REASONS FOR CRA DISPUTESCRA disputes often stem...

Offshore Audits: What You Need to Know In recent years, the Canada Revenue Agency (CRA) has ramped up its focus on offshore tax compliance, leading to a significant increase in offshore audits. These audits are designed to ensure that Canadians with offshore assets and income are reporting them accurately and paying the...

The authors of this article address the serious problem of lack of effective recourse for Canadian taxpayers where they are subject to the abusive exercise of audit and/or assessment powers by tax officials:...

With the rise of cryptocurrency, the Canada Revenue Agency (CRA) has become increasingly vigilant in ensuring Canadians report all taxable income, including earnings from cryptocurrency. Although many crypto transactions occur online and may seem anonymous, the CRA has developed sophisticated methods for identifying unreported income from digital...

Selling your home can be an exciting milestone, but it can also attract the attention of the Canada Revenue Agency (CRA). Homeowners often rely on the principal residence exemption to shelter capital gains from the sale of their principal residence from taxes. However, when CRA audits a property sale, it will challenge the claim of this...

The Government of Canada has recently proposed enhancing the Canada Revenue Agency’s (CRA) audit powers under the Income Tax Act. CRA already has vast powers to compel taxpayers to provide information and documentation. CRA can even force taxpayers to appear for in-person meetings. However, CRA claims this is not enough and new measures will be...

CRA’s Offshore Audits: What You Need to KnowIn recent years, the Canada Revenue Agency (CRA) has significantly ramped up its efforts to combat offshore tax evasion. With the global economy becoming increasingly interconnected, CRA’s focus on offshore audits is more critical than ever for taxpayers with international financial...

In Canada, the obligation to report income accurately to the Canada Revenue Agency (CRA) is not just a legal requirement but a cornerstone of our tax system. However, instances of unreported income can arise due to various reasons, sometimes inadvertently, leading to potential legal implications with the CRA.Understanding Unreported...

It is crucial to understand whether a real estate transaction in Canada is subject to the Goods and Services Tax (GST) and Harmonized Sales Tax (HST). For those dealing with residential complexes, certain sales may be exempt from GST/HST under specific conditions outlined in the Excise Tax Act (ETA).Canada Revenue Agency (CRA) audits targeting...