CRA issues Requirements To Pay (RTP) as routine procedure CRA issues Requirements To Pay (RTP) as routine procedure. Bank accounts are being frozen across Canada, with complete disregard to whether it jeopardises CRA’s ability to get paid or not. They don’t care if Mothers can’t feed their babies. They don’t care that it damages the …
1.1 Paragraph 251(1)(a) deems that related persons do not deal with each other at arm’s length. This is the case regardless of how they actually deal with one another. Subsection 251(2) defines related persons for the purposes of the Act. Subsections 251(3) to 251(6) clarify and expand on the definitions. Related individuals 1.2 According to …
Real Estate Tax Problems People dealing in real estate have a lot of potential problems with CRA… A lot of Canadians find themselves in the middle of some serious tax issues When you think about making money in real estate, remember that CRA is your partner in the proceeds. They take no risks and get …
What if you can not afford help? If you truly cannot afford to pay up front for help, talk to us, we have a heart. If you are willing to trust us, we will trust you. CRA will demand that you pay them, so why not pay us to save you more money than our …
About Other Canadian Taxes Sales Taxes The federal government levies a multi-stage sales tax of 5% called the Goods and Services Tax (GST), and, in some provinces, the Harmonized Sales Tax (HST). The GST/HST is similar to a value-added tax. All provincial governments, except Alberta, levy sales taxes, as well. The provincial sales taxes of …
Offshore Tax Problems Offshore Banking and Business is a Recipe For Big Tax Problems that require Tax Audit Solutions The world of offshore has changed, and using offshore as a means of tax reduction is no longer practical or safe. If you think that being off shore will somehow protect you, it means that you …
If you don’t fight an assessment, you are losing by default. It is definitely worth the fight. Most Notices of Objection get resolved without going to court. The unresolved objections move on to be appealed to the Tax Court of Canada or the Canadian International Trade Tribunal because the taxpayer or registrant disagrees with the …
Can You Negotiate with CRA? Negotiations with CRA – Can the taxes owed be negotiated with CRA? You could ask this question a different way. “Are there any ways to get CRA to accept less money than they are after?” The answer is generally a “NO,” unless you have leverage. CRA sees it as they …
CRA Negotiated Payment Plans You will need to prove that you can pay the debt within one year To negotiate a payment plan with CRA, you need to be able to clearly show that you can not afford to pay the full amount imediately and you will need to prove that you can pay the …
Audit Ready Bookkeeping merges with Management Accounting The Financial Compass and the use of management accounting in day by day business. The journey to financial success starts with outstanding bookkeeping – that provides feedback to the business managers. Accounting Advisory and Business Consulting is the name of the game when it comes to meaningful financial …