Self Employed Audit Ready Books

Image Index for CRA Tax Audit & Issues

By L.Kenway BComm CPB Retired

Edited May 8, 2024 | Published May 2, 2024

Quick Links
The Audit Process | The Solution | Records and Data | Areas CRA Audit Regularly | Proper Rates Used?

The Audit Process

Receiving a Tax Audit Notice

Small Business Insight on Taxpayer Rights

Is Voluntary Disclosure the Right Move?

The CRA Audit Process

The Solution - Audit Ready Books

Create a CRA Audit Trail

Where to Start

Records and Data

Feeling zen after getting all your ducks in a row

Record Retention Guidelines

Electronic signature on a business contract

Data Storage Considerations

Areas CRA Audits Regularly

Cash Transactions

Independent Contractors

Incorporated Employees

Mileage Logbook

Spousal Loans

Use of Non-Business Travel Rates

Invoices & Receipts

Input Tax Credits

Auto Expenses

Proper Rates Used?

Capital Cost Allowance

Prescribed Interest Rates

Auto Allowance Rates

More Audit Articles

Understanding Tax Audits in Canada | Amending a Tax Return
Reduce your fear of tax audits in Canada by understanding the process. It's your responsibility whether your return was prepared by a professional or not.
CRA and the Underground Economy | Cash Under The Table
Dealing in cash thrives in the underground economy. Here's what to do when your customer wants to do "cash under the table". Legal tax planning tools are dis...
What is Capital Cost Allowance (CCA)? | Common CCA Rates
Find out what is capital cost allowance and why you may not want to make a full CCA claim on your tax return every year. Learn more ...
Responding to a Tax Audit Notice | Steps to Follow
Practical steps to follow on responding to a tax audit notice. Discusses how to file a notice of objection, misconceptions, bookkeeping tips to ease the pain.
Canadian Prescribed Interest Rates | Shareholder Loans
Quarterly prescribed interest rates issued by CRA for overdue & overpaid taxes and taxable benefits. Spousal interest payments are due annually by January 30th.
Business Record Retention in Canada | Data Storage Considerations
It's a balancing act. The CRA and PIPEDA both have guidelines for business record retention, but they serve different purposes. Data storage location is discussed.
Can CRA Forms Be Electronically Signed | Form T183
Can CRA Forms Be Electronically Signed? It is the taxpayer's choice to sign traditionally or electronically. Accepted forms are T183, T21...
7 Key CRA Mileage Log Requirements | Don't Lose Your Tax Deduction
The Canada Revenue Agency (CRA) requires meticulous tracking of mileage for the purpose of business deductions. Here are 7 key mileage log requirements.
Is Voluntary Disclosure the Right Move? | Unfiled Taxes in Canada
In dealing with the Canada Revenue Agency (CRA) over unfiled taxes, small business owners may wonder if voluntary disclosure is the right move.
What is a CRA Audit Trail | Why You Want One
A CRA audit trail provides protection in the event of a tax audit. It can also protect your business against fraud or a dispute ...
Taxpayer Bill of Rights | Insight into Small Business Rights
The impact of the Taxpayer Bill of Rights on small businesses levels the playing field; allows small business to understand their obligations, defend their ...

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