The Canada Revenue Agency (CRA) is cracking down on taxpayer’s principal residence exemption claims for the sale of their Canadian real estate. Though reporting requirements have long been in place, before the 2016 tax year they largely went unenforced.
By Candace Nancke, Managing Partner
We’re pleased to announce the addition of Audit Shield, a new service that helps protect clients from unexpected tax audit bills.
No one likes to hear that the Canadian Revenue Agency (CRA) is auditing their taxes. However CRA is now using powerful data-matching capabilities, which means that even compliant and correctly prepared filings can be selected for scrutiny. As a result, the number of enquiries, investigations and audits have increased for Canadian taxpayers.
For that reason we’re now offering the Audit Shield Fee Waiver Service, which guards against unexpected professional fees incurred in responding to these investigations. Continue reading>
“It’s all about giving peace of mind to the client”, says Candace Nancke, managing partner, when asked about Audit Shield insurance for tax investigation.
In a recent article published by The Bottom Line, one of Canada’s premier national news sources for accounting and financial professionals, Candace Nancke comments on how this new product can help protect against huge audit bills and help clients sleep better at night.