Bulk Taxpayer Relief Requests & Relief For Extreme Weather Events
Bulk Taxpayer Relief Requests & Extreme Weather Events
Canada Revenue Agency (CRA) released guidance on “bulk” taxpayer relief requests as well as taxpayer relief for “extreme weather...
TFSA Penalties
Tax Free Savings Account (TFSA) Penalties
CRA Rules for Tax Free Savings Account Investments
The TFSA can be an effective investment and tax savings vehicle. In general, gains in the account remain...
CRA Gross Negligence Penalty
CRA Gross Negligence Penalty
What is a Gross Negligence Penalty?
The Canada Revenue Agency (CRA) routinely applies gross negligence penalties following an audit. The financial penalty can be as high as 50% of the tax owing. If a CRA auditor has increased taxable income, a...