Addressing the full range of tax compliance issues

The CRA has shifted from a generalized to a specialized GST/HST compliance approach.

This approach will allow CRA’s auditors to further enhance their technical expertise and be more equipped to apply the law on a timely basis. The enhancements will also provide the CRA with the information it needs to identify and effectively address instances of non-compliance.

In the past, most audits of smaller businesses (generally businesses with annual sales less than $4 million) have been done as combined audits - one audit covering both income tax and GST/HST. Combined audits have now been discontinued. Therefore, businesses will either be subject to an income tax or GST/HST audit.

Indirect tax compliance is a significant challenge for Canadian companies and a potential source of significant risk. Legislation is constantly changing, and rules and sales tax rates can differ vastly, depending on the province where one does business.

H&S Taraz’ Tax Practice is led by partners who take a hands-on, proactive approach to meeting clients’ needs. We advise on unique regulatory requirements by identifying indirect tax exposure and requirements to register, while also managing cash flow and optimizing rebates and input tax credits. 

We also advise non-residents that are starting businesses in Canada, guiding them through registration and Canadian sales tax returns. In all cases, we aim to minimize liabilities and take advantage of opportunities to reduce tax, and review tax returns to help identify and resolve errors. We tailor our services as needed, especially in circumstances where special compliance is required.

 

Shahnaz Balazadeh, CPA, CGA

Shahnaz is a designated Chartered Professional Accountant of Ontario.

Hossein Taraz, CPA, CGA

Hossein has over 20 years experience in assurance, tax and financial reporting.