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Five Things You Want to Do When the CRA Calls

29/10/2015


Learning that your business is going to be audited by the Canadian Revenue Agency can be a very stressful occurrence. That being said, being prepared, organized and transparent can turn a potentially overwhelming experience, into a straightforward, manageable interaction. Regardless of whether a mistake has been made or your business has been selected at random, you may want to contact your accounting or tax representative to help ensure a smooth process. To help you take a proactive approach, here is a list of five things you can do when the CRA comes calling:

  1. Take control by getting the proper assistance
  2. Have the right person contact the tax department to find out the reason of the audit and get the proper timeline so you can organize your documents effectively
  3. Organize your documents
  4. Adhere to timelines
  5. Know your rights

 To learn more about tax controversy and what you can do to educate yourself on how to effectively navigate through an audit, contact ​Loren Kroeker.