No More Sworn Testimony, But Audits Are Still Stress Inducing

“That” Phrase: it’s one no taxpayer wants to hear – digitally or otherwise. “You’re being audited.” If you’ve had to deliver that news you’ll know that the reaction can range from indignity to shock to panic. Based on the latest piece of legislation before Parliament, you might have to tell more of your clients to buckle up, it’s going to be a bumpy ride. CRA will now have greater powers. Consider this:

We intended to give credit to Roy A. Berg JD, LLM of the law firm of Moodys Gartner as the source of the article posted on border crossing rules in our last issue, but we neglected to do so. We wish to sincerely apologize for this oversight.

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The Canada Revenue Agency (CRA) may be stymied by the billions in unreported income flourishing in the underground economy, yet over 3000 full time staff members will soon be cut, according to information obtained by Postmedia News under access to information legislation.