5 Things You Need To Do To Win (Or Survive) a CRA Tax Audit

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Erica Alini National Online Journalist, Money/Consumer Global News So you’ve filed your taxes and received your notice of assessment, but now there’s another letter from the Canada Revenue Agency (CRA) in your mailbox with a request to see more of your paperwork. What...

CRA Lists Most Common Tax Mistakes

The Canada Revenue Agency (CRA) has put together a list of the most common mistakes Canadians make on their income tax returns. In its most recent tax information newsletter for individuals, published on March 24, the CRA says that moving expenses, student loans,...

HST Quick Method

One way to maximize your tax saving is by making the right decision on how you elect to account for the HST. The two options offered by the Canada Revenue Agency (CRA) are simply called the quick method and the regular method. Someone may easily believe that both...

Rental Property

If you own a rental property or rental part of the house, you must report the rental income that you have received in your tax return. Your tax return will require you to fill up the Statement of Real Estate Rentals schedule T776. The T776 tax schedule asks for the...