Information About Rosen Tax Law Blog

The Canada Revenue Agency (the “CRA”) uses advanced data analysis and risk assessment to decide which corporations to audit. While not every irregularity will lead to an audit, certain patterns and behaviours increase the likelihood of closer scrutiny. Recognizing the red flags that commonly trigger … Read more »

Whether you are an employer providing vehicle-related compensation or an employee receiving it, understanding how the Canada Revenue Agency (the “CRA”) treats car allowances is crucial for staying compliant and avoiding unexpected assessments. The CRA closely monitors how car allowances are structur … Read more »

Small businesses form the backbone of the Canadian economy, but they are not exempt from scrutiny by the Canada Revenue Agency (the “CRA”). A small business corporate tax audit is conducted to ensure that income is reported accurately, deductions are legitimate, and taxes are paid in full. While aud … Read more »

Under section 54 of the Income Tax Act (the “Act”), a principal residence is generally defined as a housing unit (including leasehold interest or shares in a co-operative housing corporation) that a taxpayer owns and primarily uses as their home. This can be jointly owned and does not have to be occ … Read more »

If you have received a decision, Notice of Assessment, Reassessment, or Determination from the Canada Revenue Agency (“CRA”), filing a Notice of Objection is the first formal step in resolving a dispute. This process is an essential right for taxpayers who feel their situation has been misunderstood … Read more »