You have received a letter or a phone call notifying you that you or your business is going to be subjected to an audit by the Canada Revenue Agency. Quite often a tax problem snowballs from the fact that a taxpayer does not provide the specific information sought by the CRA Auditor and reassessments are issued on incomplete or incorrect factual assumptions.
Sometimes you may not be able to provide all the information required even if you do have legitimate expenses. Recently we have seen Canada Revenue Agency use the net worth assessment method rather than factual audit technique to verify your income and expenses. Net worth assessment is not based on your income or expenses but instead based upon your personal life style.
This is an unreliable audit method and is only to be used as a last resort. Our tax expert with three decades of CRA audit experience will make sure your rights are protected and take out the stress of dealing with CRA auditor on your own. We provide both audit and appeal representation. We will work with the auditor at our office away from your place of business. We make sure the auditor assesses you in a reasonable manner as outlined by the Income Tax Act and Excise Tax Act.
If you are presently going through a CRA Audit or an audit is about to begin, please do not hesitate to contact us for your free consultation today. Let an experienced former CRA business audit team leader help you deal with CRA audit. It is often easier to address an issue with the CRA before a minor tax issue grows into a much a larger tax problem.
It is not uncommon to disagree with the results proposed by an auditor. You may feel like the auditor hasn’t correctly verified your income or expenses. One common example is missing receipts or unidentified deposits. At Calgary Taxpro we represent both individual and corporate taxpayers in all dealings and disputes with the Canada Revenue Agency (CRA).
If you disagree with the proposed adjustments, we will file an appeal on your behalf. This stops the collection of all income taxes related to the assessment until the issue is resolved.
Kam Grewal is former CRA audit team leader with 20+ years of CRA audit and Appeals experience. He was involved in auditing, collections, assessments, taxpayer relief (fairness), appeals and eventually was promoted to Audit team leader in small and medium enterprises. We offer our clients specialized, confidential and effective solutions in solving all types of tax resolution issues. Contact us for your free privileged and confidential consultation today.