Author Archives: Admin.

How to declare your unreported foreign property to the CRA

Are you a wealthy Canadian with bulks of cash stashed in foreign banks?  Since the Canada Revenue Agency circulated its Liechtenstein lists with the names of local people who owned unreported foreign property and income, in 2007, many people got scared and came forward. The number of voluntary disclosures has gone up dramatically ever since. » Read More

The problems with unreported foreign income for Canadians

Owning foreign property is not a bad thing here in Canada. The problem will only arise if there is a property that the Canada Revenue Agency does not know about and there is problem of unreported foreign income. There is an automatic penalty on a taxpayer that fails to file returns of their overseas property » Read More

Canadian corporation tax filing – Residence And Non-residence Corporations

Research shows that Canada boasts the highest rate of tax collection compliance internationally. The Canada Revenue Agency’s collection efforts and tasks have also lead to the immense growth of public finance in the country. The CRA is seriously after your corporation tax filing accuracy and completeness. A big portion of CRA tax staff is assigned » Read More

In The Face of A CRA Income Garnishment

The Canada Revenue Agency can utilize many tools to recover the taxes you have not paid.  The problem with the CRA tools is that they can easily leave you financially and legally destroyed. Until you have either paid your tax debt in full or your tax consultant has shown that the case is causing you » Read More

Let a Competent Toronto Tax Help Consultant Solve Your CRA Tax Audit or Dispute Problems

The most important time to look for Toronto tax help is when you have a tax dispute with the Canada Revenue Authority. It is nearly impossible to get yourself out of a tax dispute with the CRA. You need a knowledgeable tax consultant to take you through this difficult and stressful procedure. If you are » Read More

Undeclared income Must Be Reported In Canada

Unreported income is being fought hard by the Canada Revenue Agency (CRA). The CRA wants taxpayers to report all their income sources. It does not matter whether you earn all your money from within Canada, outside of Canada or just online. Anything that should be disclosed as income need to be reported truthfully. Although the » Read More

Income Tax Canada Requirement: File Taxes On Time

Are you an eligible taxpayer in Canada? The Canada Revenue Agency, the chief administrator of the income tax system, wants you to pay your taxes on time. It does not matter whether you are needed to pay personal income taxes or corporate income taxes. The CRA has an internet-based procedure for filing your tax returns.  » Read More

Canada income taxes previous years – There are Penalties and Interest Fees

It is possible to file your Canada income taxes previous years returns easily and safely. The CRA expects you to come out voluntarily and use the preset mechanisms for reporting undisclosed earnings. There is no danger of being prosecuted or jailed as long as you volunteer information you have been hiding. Without utilizing the mechanism » Read More

The CRA Notice Of Objection – How To Go About It?

Canadians have a right to file a notice of objection if they think that the CRA has misinterpreted the law or facts. They can rightfully object to things like Canada child tax benefits, GST/HST credit, income tax evaluations or re-evaluations and disability tax credit among other things.  A notice of objection marks the beginning in » Read More

Why You Need CRA Business Tax Audit Help?

Have you ever undergone a CRA business tax audit?  If so you can agree that an audit process is among the most devastating moments of running a business. The CRA business tax audit help is always available though. Hence you should never choose to go through the audit process with the tax auditor by yourself. » Read More

Unfiled Taxes Canada – A Comprehensive Guide For Late Tax Payers

There are Canadians who have not filed their taxes in years. Are you among them? The longer you wait to report the higher your tax arrears will become. This will increase your odds of being severely punished by the CRA. Unfiled taxes Canada consultants can file your late returns and get you out of trouble » Read More

Tax Arrears Owed To The CRA Can Be Solved

Do you have tax arrears? If so, you will pay tax penalties and/or interest charges to the CRA. The only way to avoid penalties is to get into a habit of filing your income taxes on time. Like many people, you have most likely accumulated tax arrears because of unavoidable circumstances that were beyond your » Read More

Taxpayer Relief Help From A Reputable Canadian Tax Firm Is Crucial

All taxpayers in Canada are expected to pay their taxes on time. Failure to file a tax return is a crime according to the tax laws of Canada. The Canada Revenue Agency has a right to take you to court or to impose penalties or interests on you. If you cannot manage to pay your » Read More

Apply For The Taxpayer Relief Canada Program Via A Tax Professional

Do you know about the Taxpayer relief Canada program? Some of you have unpaid tax returns and are facing harsh enforcement actions from the CRA. There is not much you can do to the CRA when it decides to collect money from you. It will follow you everywhere and punish you for evading tax. But » Read More

Why You Need CRA Tax Audit Help?

The Canadian tax collector, Canada Revenue Agency, is known to conduct tax audits on filed tax returns. The CRA records tax returns in a computer system that allows it to determine the accounts that must be audited. Hence you can be audited anytime even if you have paid your taxes for the current and previous » Read More

Tax Filing Late Interest and Penalty Charges You Should Expect From CRA

Tax filing late penalties and interest rates are common with the Canada Revenue Agency. The CRA does not want to be owned even a penny and it has big fines to discourage tax evasion. For every amount you have not paid there will be a penalty and an interest charge. Needless to mention, you should » Read More

CRA tax audit Process: What to Do If You Are Pick for It

Many people fear the CRA tax audit. It happens when the Canada Revenue Agency, CRA, evaluates your business books to determine whether you have paid your tax returns entirely. Being audited is not similar to being reviewed.  But if you fail to respond to a review or if the CRA is dissatisfied with your response » Read More

Methods Of Collecting Taxes: CRA Income Garnishments

The Canada Revenue Agency has many ways to deal with tax payers who evade taxes. The CRA income garnishments represent just one of the scariest methods the organization uses to collect pending taxes. The Canadian Income Tax Act gives the CRA the mandate to demand a garnishment of wages from your employer. If you owe » Read More

CRA Bank Freeze Is A Ruthless Tax Collection Method

The Canada Revenue Agency goes after everyone who evades taxes. It won’t let you go on with your life while not filing your tax returns. Some people think that they can get away with evading taxes but they pay the heftiest price when they face the harshest tax collection methods. The CRA bank freeze is » Read More

Qualifying for Taxpayer Relief Canada

There is a misconceived notion about the taxpayer relief Canada program that it is offered by CRA as a one-time event for a particular taxpayer. It is not so. The taxpayer relief Canada program is available to all residents in Canada who have been charged penalties and interest. These residents have a legal right to » Read More

Late Tax Filing Will Attract Penalties and Interests on Amounts Owed to CRA

Late tax filing is a common problem among global tax payers. If you live in Canada, and have not paid your 2013 taxes, you will face a serious penalty starting May 6th this year. According to CRA (Canada Revenue Agency), you will be charged a daily interest (compound interest) on any outstanding balance for 2013. » Read More

The CRA Tax Appeal Process

The system of tax disputes in Canada is meant to offer you an elementary framework of the CRA tax appeal process. The system may have its deadlines that may not be easy to meet. It is wiser to take guidance from tax consultants when you find yourself in a tax dispute issue with the CRA. » Read More

CRA garnishments and their Impact

CRA garnishments come into effect when there is a substantial tax debt due to them without any proposal from the taxpayer in the form of a payment plan. If the tax returns have not been filed and CRA feels that there is no likelihood from a particular taxpayer to come forward with any voluntary disclosure, » Read More

Staying off the Radar with Help on CRA Tax Audit

When do you require the help on CRA tax audit? Let us start with employer compliance. CRA pursues a whole range of issues that are connected with employer compliance like the remittance of source deductions on a timely basis, the establishment of worker status as either employees or independent contractors. It also scrutinizes aggressively the relocation » Read More

The Task assigned to a Tax Collection Agent

If the CRA does not accept your tax return, it will assign an auditor and later on tax collection agent to your case. The task of the tax collection agent is to make sure that your complete tax dues are collected. In view of the tax dues not being collected in full, the tax collection agent » Read More

It is your Right to seek CRA Tax Audit Help

The very thought of a tax audit may bring in fear in the hearts and minds of people. When the Notice of Assessment arrives in the mail, it may disrupt the normal life of a citizen as it will eat into the quality time that he or she can spend with the family and business. » Read More

The Role of a Tax Collection Agent

Who is a tax collection agent? What is his or her role? A tax collection agent is appointed by the Canada Revenue Agency. The agent is well trained in the process of collecting taxes and making sure that the tax debts are paid in full. A tax collection agent is fully aware of the rules » Read More

How to Avoid CRA Income Garnishment

CRA can impose a garnishment on your income as an enforcement action without the necessity of going to court. Every creditor has to get a court order before being able to take any enforcement action against you.  The CRA is not required to give you any warning before imposing any penalties. CRA income garnishment can » Read More