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Audits Can Be Taxing

What to do when the tax-man comes a knockin’

If you are like many small business owners, the mere mention of a tax audit can make your hair stand on end.  There are many things you can do to ensure that you are prepared for a potential audit and that you understand your rights. 

What to expect when you’re expecting

Check out the useful tips provided in What to do when the tax auditor arrives. You will find answers to questions such as:

  • What type of records should I keep and for how long?
  • Can I ask for an extension for the tax audit if I am extremely busy?
  • Can the audiotor question people at my place of business?
  • What should I do if I feel the tax auditor is being unreasonable or abusive?
  • What steps do I take if I don't agree with the auditor's decision?

 

Have you been contacted by the Canada Revenue Agency or PST Branch for an audit? Our Business Counsellors will be happy to discuss what to expect and how you can help make it as painless as possible. You can reach us by telephone at 604.684.5325 or by email at [email protected]