The Canada Revenue Agency (“CRA”) can charge interest and penalties for a variety of reasons. Perhaps more worrisome is the alarming rate that penalties and interest can accrue at thereafter. Interest and penalties can easily accumulate to amounts greater than…
Anyone who has been audited will tell you about the amount of time they spent compiling receipts, bank statements, and other documentation to refute assessments made by an auditor. Once an auditor has made their determination of what a taxpayer…
A Principal Residence audit occurs when the Canada Revenue Agency audits a taxpayer for the sale of one, or multiple properties where no taxes are paid. No taxes are paid because the taxpayer is claiming the Principal Residence Exemption, which…
It’s no secret that Vancouver is one of Canada’s hottest real estate markets, and that other large urban centres in British Columbia have enjoyed similar popularity in investment patterns. A limited supply of housing, however, has caused issues with accessibility….
