by Asam Afzal | Mar 24, 2023 | Uncategorized
As the world gets smaller and more interconnected, it becomes more common for people to work remotely for Canadian companies from outside of the country. They join the significant numbers in the Canadian diaspora who may be required to file a Canadian tax return and...
by Asam Afzal | Mar 8, 2023 | Uncategorized
Unfortunately, when you invest in property that generates income as part of your financial planning, paying taxes to the Canada Revenue Agency (CRA) is part of the expense. This is especially true for capital property in Canada The best way to reduce your overall tax...
by Asam Afzal | Feb 23, 2023 | Uncategorized
Fixed assets, also known as tangible, long-lived or long-term assets, are properties that a business invests in that provide it with economic benefits over a long period of time. They are often assets that help the business improve its productivity, quality, revenue,...
by Asam Afzal | Feb 8, 2023 | Uncategorized
According to the CRA’s web pages on audits (there’s one for individuals and one for businesses), “The CRA’s risk-assessment systems identify tax returns that are considered to be at high risk for non-compliance.” In other words, the likelihood of tax reporting...
by TheStory4143 | Jan 19, 2023 | Uncategorized
It happens all the time to individuals and business owners when filing their taxes. There are so many fields and boxes to fill out and so many different locations that require you to enter information that it’s too easy to enter it on the wrong line or to forget to...
by TheStory4143 | Jan 5, 2023 | Uncategorized
How Far Back can CRA Audit? The CRA is limited in how far back they can look at someone’s returns – in most cases. Normally, a CRA waudit the two or three most recent tax years. If the CRA finds significant discrepancies in their tax audits they have...
