Whether this is the first time you have been selected for an audit, or you have undergone previous audits by the CRA, there are a number of key actions by the taxpayer that can minimize the effort and time invested, reduce the potential for reassessment and allow you to exercise some control over the conduct

The sale of a capital property for an amount greater than its cost generally leads to a capital gain, 50 percent of which is taxable in Canada. If the property is the seller’s principal residence, the gain resulting from the disposition can be sheltered by the principal residence exemption (“PRE”). Only taxpayers who are individuals

 Why do you need a CPA? Chartered Professional Accountants (CPAs) act as advisers to individuals, businesses, financial institutions, non-profit organizations and government agencies on a wide range of financial matters. Today, many individuals and businesses turn to CPAs for help with tax preparation, personal financial planning, auditing services, and advice on developing effective accounting systems.