What To Do After Getting A CRA Audit Notice
One of the moment Canadians are not looking forward to is receiving a notice from the CRA that they are to be audited. For companies, they rely on protection such as Audit Shield to make sure that they are covered no matter what happens. If you happen to receive a notice from the agency regarding tax audit, do not panic. The first thing you have to remember is to keep calm and make sure you understand how the Canada tax system works. The tax system of Canada follows the self-assessment concept wherein an individual is required to file a tax [...]
Importance Of Getting Tax Audit Protection Insurance
The most dreaded nightmare for tax payers is getting a scrutiny from the ATO or any other tax collection departments of the state. The ATO can randomly pick up and tax return for scrutiny and investigation even when the accounts are error free and taxes are paid. The process of a tax scrutiny is long and involves a lot of financial loss. The company or individual needs to hire a lot of professionals to help him sail through the tax audit. Getting the annual cover for audit protection insurance comes handy in such scenario. The insurance cover, which can be [...]