by Sebastien Prost, CPA | Mar 1, 2024 | CRA
Registering with the Canada Revenue Agency (CRA) is a critical step for individuals and businesses to stay compliant with Canadian tax laws. It involves a straightforward process that begins with understanding your fiscal responsibilities and how they intertwine with...
by Sebastien Prost, CPA | Dec 21, 2023 | CRA
The Canada Revenue Agency (CRA) Voluntary Disclosures Program (VDP) is a legal avenue that allows Canadian taxpayers to rectify previous errors or omissions in their tax filings. It presents an opportunity for individuals and businesses to come forward and voluntarily...
by Sebastien Prost, CPA | Dec 8, 2023 | CRA
When taxpayers in Canada disagree with an assessment or decision made by the Canada Revenue Agency (CRA), they have the right to lodge a formal dispute through a notice of objection. This legal recourse allows individuals and corporations to contest a variety of...
by Sebastien Prost, CPA | Dec 6, 2023 | Corporate Tax, CRA, Personal Tax
In Canada, tax reporting involves various forms, each serving a unique purpose for taxpayers and the Canada Revenue Agency (CRA). Among these are the T3, T4, T4A, and T5 slips, which are essential for individual tax filing. These slips are all different in the...
by Sebastien Prost, CPA | Nov 13, 2023 | CRA
In understanding the nuances of tax collection in Canada, the concept of the collections limitation period is essential. The Canada Revenue Agency (CRA) stipulates that a tax debt has a defined limitation period, typically spanning either 6 or 10 years, within which...
by Sebastien Prost, CPA | Oct 4, 2023 | Corporate Tax, CRA, Personal Tax
Understanding the scope and timeframe of Canada Revenue Agency’s (CRA) authority to conduct audits is a key component of tax compliance. Generally, the CRA has the ability to audit tax returns up to three years (four years for non-CCPCs) after the original...
