If you’re sending money every month to support your parent who lives outside Canada, it feels obvious that you should be able to claim them on your tax return. You’re doing the right thing. You’re covering their living costs. You may even be supporting them more than families who qualify for CRA credits. Then the…
If you are a small business owner, incorporated professional, or practice owner, the idea of a CRA audit probably brings up the same emotions right away: stress, fear, confusion, and the sinking feeling that you may be forced to defend years of decisions under pressure. That fear is not irrational. Most business owners assume that…
Introduction As an IT consultant, your expertise may lie in systems, software, or digital infrastructure — not in tax law. Yet when it comes to CRA audits, IT contractors are among the most closely scrutinized professionals in Canada. Why? Because consultants often operate through incorporated companies, claim business expenses that blend into personal life, or…
When a Canada Revenue Agency (CRA) audit letter lands in your inbox, it’s normal to feel a jolt of stress. Your first instinct might be to call the auditor or start emailing documents. Pause. The steps you take in the next 24–72 hours shape the outcome of how far the audit goes, what it costs,…
Medical professionals in Canada face unique tax challenges that can quietly snowball: mixed exempt and taxable services for GST/HST, busy clinics with weak bookkeeping, personal-corporate “blur” (shareholder benefits and loans), and foreign asset reporting (T1135). The longer issues sit, the higher the stakes: penalties, compounding interest, reputational risk, and even regulatory attention. There is a…
Introduction: Why the Voluntary Disclosure Program Matters If you’ve fallen behind on taxes, failed to file T1135 foreign asset forms, or missed GST/HST returns, the CRA Voluntary Disclosure Program (VDP) offers a path to correct past mistakes while avoiding harsh penalties and prosecution. For many years, though, the definition of “voluntary” was so restrictive that…
Introduction As a medical professional, your focus is on patient care, not navigating the complexities of tax compliance. However, the nature of your work often makes you a prime target for CRA audits. At Dexado Accounting & Tax, we understand this all too well. Led by an ex-CRA auditor and CPA, our team knows exactly…
The Canada Revenue Agency (CRA) is dedicated to improving its services to better serve Canadians. As part of this commitment, the CRA has introduced enhancements to its online services, Change my return and ReFILE, allowing individuals to easily request changes to their tax returns. These services provide a convenient and secure way for taxpayers to…
What Small Business Owners Should Know About CRA Audits It’s no secret that small businesses are often targets for audits by the Canada Revenue Agency (CRA). They can reach back up to six years to review your books. It’s important to know that CRA audits can take a long time and can be costly. Without…
Small business owners in the residential construction and general contractor industries face unique challenges when it comes to accounting and taxes. Operating as a cash business in the construction industry carries a high risk of being audited by the Canada Revenue Agency (CRA), so it is crucial to have a strong understanding of tax…