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:

Canada’s corporations have indeed increased the amount of cash on their balance sheets but it is a survival strategy, not an avoidance strategy, says the C.D. Howe Institute.

A number of recent numbers from Statistics Canada testify to gently improving economic conditions.

The Bank of Canada has advertised the position of governor, which will become vacant in June when the present governor, Mark Carney, departs for the Bank of England.

You may not be able to control the economy but you can control the amount of income taxes you pay.

Goodwill can be “eligible capital property” under the Income Tax Act, explains Greer Jacks in this second of two parts on goodwill.

Yes. The government imposes income taxes on non-residents who earn income in Canada and/or dispose of Canadian property.