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What Are Your Chances Of Getting Audited By The Canada Revenue Agency? - SAU Consulting

The CRA will send you a notice of assessment or reassessment, indicating the owed taxes and any interest and penalties once the process is completed. Contact SAU Consulting and we ensure the CRA will take yet another look at your case. Visit us online now! https://www.sauconsulting.ca/our-services/taxdisputes/

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What Are Your Chances Of Getting Audited By The Canada Revenue Agency? - SAU Consulting

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  1. What Are Your Chances Of Getting Audited By The Canada Revenue Agency? - SAU Consulting

  2. The goal for CRA audit in Canada is to track high income people living in conservative areas.  It uses a structured approach to  classify certain entities and to test if  they correctly report revenue.

  3. Here are some general guidelines about audit risk for a indivisual or businesses: Businesses are more likely to be audited than staff Employees who do not disclose correctly the  information slips issued by employers and  financial institutions. GST/HST is the issue most likely to attract audit attention to a business.

  4. Large funds transfer, particularly made internationally, are reported to the Federal Government and can raise audit flags with the CRA. CRA will occasionally create and announce audit projects to increase compliance audits in specific sectors. CRA has been actively encouraging Canadians to report on their friends, neighbours and associates.

  5. Each year the Canada Revenue Agency refines the way it analyzes taxpayer information and attempts to identify and audit taxpayers with high risk indicators. Once a taxpayer has been selected for audit, there is a very high likelihood that the CRA auditor will make changes and reassess additional taxes.

  6. Contact Us Website: www.sauconsulting.ca Address: Calgary, AlbertaT2P 3R5 Phone: (587) 284 3266 Fax: (403) 452 2471 Email: info@sauconsulting.ca

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