CRA Tax Archive

What You Should Know About Canadian Tax Amnesty?

CRA tax amnesty, also known as Voluntary Disclosure Program or VDP, is when the Canadian government allows a taxpayer to fix a mistake on a previous return or declare income that they had previously left off of their return. The purpose of CRA tax amnesty is to provide the taxpayer with an opportunity to amend » Read More


Tax Consultants Help with The CRA Tax Problems

Why Use The Services of Tax Consultants Tax issues can be quite challenging at times. The CRA (Canada Revenue Agency) has a huge array of tax requirements. Meeting all of them can be overwhelming. A tax consultant Toronto comes in handy whenever you need some help with any complex issue related to taxes. Seasoned tax » Read More


Voluntary Disclosure Program (VDP)

As the Canada Revenue Agency (CRA) moves forward to aggressively address non-compliance on unreported income or unfiled taxes, it becomes more important that you need to be aware of the Voluntary Disclosures Programs (VDP) In cases of gross negligence, the Income Tax Act allows the CRA to assess a penalty of up to 50% of the unpaid » Read More


Tax Preparation Service

If you are like millions of other individuals throughout Canada, you might not be happy with the numbers for your final tax bill or tax returns. Perhaps you thought you should receive more than what your calculations are showing, or maybe you have to pay an amount that just doesn’t seem right. While you probably » Read More


Unfiled Tax Returns to CRA

There are more and more people experiencing problems of unfiled tax returns. It is understandable that there are many priorities in people’s lives and thus sometimes it is becoming increasingly difficult for taxpayers to catch up with their tax filing obligations. The CRA, however, views your situation differently, not in sympathy perspective as CRA is, » Read More


Understanding Tax Evasion vs. Tax Avoidance

Understanding Tax evasion vs. Tax Avoidance Tax Evasion is illegal; it is the evasion of taxes by taxpayers including individuals and businesses such as corporations. Under tax evasion taxpayers intentionally misrepresent the true income or tax owing status to the tax authorities to reduce their tax liability. Such act may include false tax filing, such » Read More


Tax Lawyer or Tax Attorney: Do You Need One?

Tax Lawyer or Tax Attorney: Do You Need One? Many people, once in tax troubles, assume that in order to solve their tax problems with Canada Revenue Agency, they will need to engage a tax lawyer or tax attorney. However, what they do not know is that specialized Tax Accountants are equipped with tax knowledge » Read More


How To Stop and Release an Income Garnishment

Canada Revenue Agency (CRA) may collect the unpaid assessed amounts by way of garnishment. This method may be used to obtain the tax owing by tax payers for the amounts owing to CRA. Garnishment is usually served on a third party such as a company, financial institution or individual who the CRA believes is liable » Read More


Dealing With A Bank Freeze by Canada Revenue Agency

When taxpayers have tax debts owing to the Canada Revenue Agency (or CRA for short) the CRA collection agents will begin to pursue legal collection action to recover the tax debts. One method that the CRA collection agents like to use to collect debt is by freezing a bank account commonly known as bank » Read More


Professional Canadian Tax Accountants

Are you facing any of the following tax issues? Issues on back taxes, late taxes, unfilled taxes? Personal, self-employed business, Corporate and business tax issues? Unreported Income, under-reported income? Issue with tax audit (Income tax, GST/HST, PST, payroll, WSIB)? International tax issues? Owing large tax debt, tax penalties and interests? Income garnishment, tax lien? That » Read More


Most Common Tax Debt Problems & CRA Debt Solutions

Tax debt problems include different types, such as CRA (Canada Revenue Agency) tax debt problems; Provincial tax debt problems. For instance: Income tax owing problems, tax debts, CRA Debt, sales tax debt problems, etc. All levels of Tax authorities are becoming more and more aggressive to collect the tax debts. When taxpayers receive the tax debt notice, » Read More


Tax Representation Canada

When do you need a tax representative? When a taxpayer has a complicated tax situation that needs extra attention, we always recommend that Professional Tax Representation be used. Representation is also useful if a taxpayer does not have the time or desire to speak to the CRA on their own. Why use a tax representative? » Read More


CRA Tax Penalties to Individuals and Businesses

Late-filing penalty for individuals, self-employed and corporations If you or your corporation owe tax and do not file your return on time, CR will charge a late-filing penalty. The penalty is 5% of your balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of » Read More