Tax scams are on the rise, so protect yourself with good information. Here’s how to know if a person claiming to be collecting on a tax bill from the Canada Revenue Agency (CRA) is on the level, or a fraudster. For years, Personal Tax Advisors has warned clients to disregard personal emails about tax refunds [...]
So it's been a few years, you haven't filed your returns, and now you've decided to get honest about it. Good for you! You’ll feel great for having gotten this off your mind. But while we always recommend filing late returns, don't rush in blind if you owe tax. Consider taking advantage of CRA's [...]
In the last few years you have probably noticed a question on your Canadian income tax return asking if you owned any foreign property: "Did you own or hold specified foreign property where the total cost amount of all such property at any time, in the tax year, was more than $100,000 CAD?" What [...]
https://youtu.be/zwvpLIMEVr0 Registering for the GST/HST before you have to can be an advantage We know you probably don't feel like registering for a GST/HST number until you absolutely have to, and we even know why. Who wants the extra hassle if you can (legally) avoid it? What you may not have considered is [...]
Most letters from the Canada Revenue Agency look bad, but are in fact simple to deal with. An extremely common kind of CRA letter is the Request to File, which can be handled in a fairly straightforward way. The worst thing to do is to ignore a letter from CRA – it could cost you [...]
Everybody has off days, and sometimes that means not filing your taxes when you should. If those late returns are keeping you awake at night, the Voluntary Disclosure Program can help. By following some simple steps and filing your returns under the Voluntary Disclosure Program (VDP) you can reduce – or even eliminate – your late [...]
