We solve serious CRA tax problems
NET WORTH AUDIT

NET WORTH AUDIT

Almost all Canadian resident taxpayers and, in some circumstances, non-resident taxpayers, have to file various returns with the Canada Revenue Agency.  If a taxpayer fails to file a tax return when and as required, the Canada Revenue Agency (CRA) can either make a...

Avoiding Penalties From Unfiled Taxes

Every person who is taxable in Canada is required to file a return with the Canada Revenue Agency within specified timeframes.  There are some limited circumstances where there is no requirement to file a return, but for most people a return (or a number of returns)...

How the CRA Calculates Your Net Worth

The concept of “Net Worth” is used in taxation, originally, as part of the definition of what counts as and what doesn’t count as income.  The initial analysis created a relationship between “net worth”, “personal expenditures”, and “Income”. In effect, the equation...

GST-HST Audit

The GST/HST is a value added tax that applies to the additional value created by a business in the supply of a good or service.  GST stands for “Goods and Services Tax”, and is the tax collected by the Federal Government. In some cases, Provinces chose to opt into the...
pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.