CRA

When do you Charge HST

When do you Charge HST

Whether you are self-employed or your business is incorporated, it is your responsibility to ensure you register and collect HST when you meet certain conditions set out by the Canada Revenue Agency (“CRA”). Many small business owners are not aware that whether you are self-employed or incorporated, if your business earns greater than $30,000 in world-wide taxable supplies over any four consecutive calendar quarters you must register for HST, and collect HST, and remit it …

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Red Flags that will get you Audited

Red Flags that will get you Audited

The Canada Revenue Agency (CRA) audits people or companies whose tax returns seem suspicious.  CRA is more likely to audit self-employed individuals and small businesses than employees with a T4 slip. CRA has significant industry and demographic data that they utilize to analyze a wide range of tax claims. Any real or perceived differences or outliers to this data could lead to an audit.  Often, the first step is not a full audit but a …

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Beware of New Telephone Scams

The following article appears originally on the CRA website and was posted originally on June 10th, 2015. The Canada Revenue Agency (CRA) is noting an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware—these calls are fraudulent and could result in identity and financial theft. Some recent telephone scams involve threatening taxpayers or using aggressive and forceful language to scare them into paying fictitious debt to …

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