Tag Archives: CRA

10 Red Flags that could Cause the CRA to Audit You

The Canada Revenue Agency (CRA) sends around 30,000 letters every year letting people know that they’re being audited. While this is just a fraction of the 27 million people who file their taxes, you shouldn’t assume that getting an audit notice is completely random. Your chances of getting audited decrease if you keep an eye…
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Tax Deductions for Gifts-In-Kind

Gifts-In-Kind are a non-monetary donation to a charity. These can also be tax deductible provided you keep a few things in mind. 1. The Most Important Condition Make sure that the charity of your choice is recognized by the Canada Revenue Agency (CRA) as a registered charity. If it doesn’t have this status, then any…
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CRA Notifications – What you need to know

Today we’re going to take a look at the following notifications sent by the Canada Revenue Agency (CRA). Request for InformationNotice of AssessmentNotice of ReassessmentAudit 1. Request for Information This notification means that the CRA would like to see proof of something which was on your return. Some of the most common information requests are…
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