Most businesses will undergo a goods & services tax (GST) audit by the Canada Revenue Agency (CRA) at some point in their history. This process needn’t be stressful or daunting—if businesses proactively engage in some good habits, a GST audit can be relatively painless. What information do …
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Payments to CRA on Behalf of Clients
Starting in February, professional tax specialists can now send payments to CRA on behalf of their clients as well. That will also save time for the taxpayer: no need to go to the financial institution to make that transaction. These pre-authorized debits will require that Part F of the form T183 …
Coach Houses and the Principal Residence Exemption
In communities where rental accommodation is scarce, more and more homeowners are building a second dwelling on their lot and renting out that "coach house" or "carriage house". Many have not thought about the tax consequences, though, and they could be complicated. The key question: will your tax …
