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Understanding a CRA Notice of Assessment You will receive a Notice of Assessment when the Canada Revenue Agency (CRA) receives and processes your tax return (or if the CRA files your return for you-called a notional assessment or arbitrary assessment). The information listed on the Notice of...

If you drove for a ride-hailing service like Uber or rented your home through Airbnb last year to earn extra income, that needs to be reported come tax time. However, the good news is that you can deduct related expenses; In a simple context, anything that you...

So, this sure could change a taxpayer’s view about what to do about their taxes. The Canada Revenue Agency has order PayPal, the online payments company, to hand over information about its Canadian business account holders. On the PayPal website it states it has been served...

For most Canadians filing taxes on time is a must. But sometimes life throws you a curve ball, or two. That means a tax debt that can eat into your savings account. For most, a tax debt and the resulting CRA penalties and interest are...

We have had a number of clients who have been or are in the process of getting divorced. It is important to understand how this impacts your income tax, so I asked my business partner, Fraser Simpson some questions about this topic. David: “As you know...

Jim had a small business (20 + employees) for 7 years. He had gone through some personal troubles which had an impact on his business over the past few years. Decisions were made at that time to forgo certain tax payments along with properly maintaining...

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