News and Media

Auditor General reveals, Canada’s tax agency blocks more than half of calls to meet performance standards and gives bad advice frequently

24th November 2017

The Canada Revenue Agency blocked more than half of the calls it received from Canadian taxpayers in order to obscure the performance results of its customer services division, and also accidentally provided incorrect information to a high number of callers, according to the Auditor General.

CRA call centres blocked 54 per cent of the 53.5 million calls it received from taxpayers between March 2016 and March 2017, according to a report released by the Auditor General of Canada Tuesday. The agency’s call centres are responsible for taking questions from Canadian taxpayers and businesses about their taxes, credits and benefits.

Click here to read the full article. 

Audits on large TFSAs ramped up

22nd October 2017

Canada's tax agency is taking a closer look at accounts with significant balances - and is considering other factors - to determine whether account holders should be deemed to be carrying on a business. 

Taxpayers who hold TFSAs with large asset balances may fall under the scrutiny of the Canada Revenue Agency (CRA) as part of its ongoing audit program for these accounts. A key concern for the tax agency is whether a taxpayer is carrying on the business of day trading, a determination that would lead the CRA to tax any income earned in the TFSA as business income.

Click here to read the full article. 

CRA investigation seeks information to identify B.C. condo-flippers

17th October 2017

The Canada Revenue Agency is casting a wide net in its investigation of condo presales, with court documents indicating the agency will seek "any and all correspondence, including emails," between all parties involved in the transactions, including developers, buyers and agents.

Click here to read the full article. 

Tax Views: Appealing tax assessments a long and expensive journey

21st September 2017

Taxpayer appeals to the Canada Revenue Agency (CRA) are the first step in resolving tax disputes following an assessment for taxes. The procedures are strictly controlled, the timelines are stringent and subject to technical issues of delivery of documents. 

There are three principal steps for resolving income tax disputes with the CRA. The first is to file a proper Notice of Objection. Although the mechanics of this step are fairly simple (identify the taxpayer, the assessment objected to, the years involved, and the reasons for the objection), it is important to set out the relevant provisions, and a brief statement of the reasons for the department to review. The scope of the Objection can become an issue in subsequent litigation.

Click here for the full article.