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CRA

When Do You Charge HST?

When Do You Charge HST?

AUTHOR: APRIL WHEELER - CPA, CGA

Whether you are self-employed or your business is incorporated it is your responsibility to ensure you register and collect HST when you meet certain conditions set out by the Canada Revenue Agency (“CRA”). Many small business owners are not aware that whether you are self-employed or incorporated, if your business earns greater than $30,000 in world-wide taxable supplies over any four consecutive calendar quarters you must register for HST, and collect HST, and remit it to CRA.

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Red Flags that will get you Audited

Red Flags that will get you Audited

AUTHOR:  APRIL WHEELER - CPA, CGA

The Canada Revenue Agency (CRA) audits people or companies whose tax returns seem suspicious.  CRA is more likely to audit self-employed individuals and small businesses than employees with a T4 slip.

CRA has significant industry and demographic data that they utilize to analyze a wide range of tax claims. Any real or perceived differences or outliers to this data could lead to an audit.  Often, the first step is not a full audit but a request for further information. However, if full and valid support for the claim is not provided, it could lead to a full audit.  You want to avoid an audit if at all possible.

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