by firsttax_admin | Oct 4, 2016 | General
The CRA (Canadian Revenue Agency) has a number of checks it needs to do as it relates to the authenticity of some of the businesses that persons claim to be operating. These checks are referred to as a profit test. There are a number of things that are necessary for...
by firsttax_admin | Sep 30, 2016 | General
If you’re late with filing your Canadian income tax, and you owe the CRA a balance, then you may find that you are held responsible and you’ll be charged with a late filing penalty. It is 5% of your balance owing and 1% of your balance owing for each late month you...
by firsttax_admin | Sep 23, 2016 | General
If you’re a taxpayer who’s getting audited for some discrepancies in your tax submissions, then you’d probably want to read these tips. You may want to know about the information you need for an audit, because your income, deductions, credits and other things may be...
by firsttax_admin | Sep 16, 2016 | General
If you befall the misfortune of getting a tax audit, you should really pay attention to some of the tips we’re about to show you. These tips will help you to make it through your tax audit. Stick with these them and you’ll be just fine. · ...
by firsttax_admin | Sep 13, 2016 | General
So you’re not really sure about all the aspects of your taxing in Canada, are you? There are a number of things you need to know as it relates to such information, especially as it relates to tax auditing in Canada. We want to make sure that you are well-versed in the...
by firsttax_admin | Sep 6, 2016 | General
CRA audits aren’t something you would like to have to deal with, whether it’s yourself or your business being audited. However, not all audits are the same, nor are all the divisions of the CRA. Some of the various types of audits are more formal than other types....
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