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 …