GBA LLP Blog

Is the Threat of a CRA Audit Keeping You Up At Night

Posted by Trevor Buttle on Oct 23, 2019 4:20:47 PM

 

CRA Audits Increasing Every Year

Do a Google search on CRA (Canada Revenue Agency) Audits and you will find hundreds of articles about how CRA is spending more money to hire more auditors and improve statistical analysis to improve targeted audits. A few years ago, CRA reported to Parliament that random audits detected significant non-compliance in 12.2% of cases.  However, targeted audits based upon certain risk assessments detected a whopping 46.7% of non-compliance. To this end, CRA has proposed to increase spending by $1.2 billion by 2024-25 to hire new auditors to improve tax compliance -- and they expect to recover and collect $5.8 billion more in taxes as a result.

We should first understand why taxpayers get audited, then we can talk about things you can do to alleviate the anxiety.  So what activities or characteristics will increase your risk of getting audited?

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Topics: General Tax Information, General

CRA Audit Alert - Vehicle Expenses Audit Project

Posted by Shawn Kelman on Oct 8, 2019 11:27:14 AM

 

CRA Audit Project - Reviewing Your Vehicle Expenses

The team at GBA have observed an increased number of CRA reviews and audits surrounding vehicle expenses.  We normally see a number of these each year, but this year, we feel like it has become a project for CRA to target these expenses, and we feel that it is important enough to not only tell our clients how they can ensure that they are protected, but to tell the general public as well by way of this blog.

These expenses can be found in several scenarios with individual and/or corporate taxpayers.  With individual taxpayers, if you are using your vehicle as part of your business as a sole proprietor, or as part of employment expenses, your risk of being audited has increased over the past year.  So, if one of the above situations applies to you, please continue to read the following as we explain how to audit proof your taxes.

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Topics: General Tax Information, General

It’s Tax Time, and the scammers know that too!

Posted by Trevor Buttle on Mar 11, 2019 5:56:48 PM

 

March and April is often a very stressful time for most Canadians. Generally, it is the time of year that we all dread – preparing our taxes. At GBA, we help thousands of people file their taxes every year, and every year, we get numerous call from our clients often in a panic, asking us questions about messages that they have already received from the Canada Revenue Agency (CRA). Therefore, we thought this would be a good time to address some of the usual questions about scams vs real CRA agents.
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Topics: Personal Taxes, General Tax Information

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