Tax Audits

It's quite likely that at some point in your business life you will receive a call from the "tax department" to tell you that you have been selected for an audit. Initially you may be shocked or bewildered : why they would come knocking on your door?

Tax audits happen for a number of reasons:

  • Multiple unfiled corporate or personal returns;
  • Multiple unfiled source deductions or HST returns;
  • A follow up on large account balances outstanding with source deductions or HST;
  • A follow up on larger corporate, personal or HST refunds;
  • A follow up on certain tax credit incentives such as SR&ED and ATTC;
  • The result of a random computer data base selection by the tax department

Remember that no matter the reason - don't take it personally! The individual assigned to perform the review or audit is simply a person doing their job and are responsible to a supervisor above them. Be polite, treat them fairly & respond / provide them with the information they request as best as you are able.

More often than not people are uncomfortable when dealing with government representatives.

If this is the case, we would be happy to work with you in coordinating the audit review process with them in an efficient and time effective manner.

Client Testimonials
  • " I was referred to Michael by another business owner while entrenched in a messy audit of corporate tax returns from five years previous. Michael quickly sorted out the paperwork and steered me though with a calm forthright approach and turned it into a favorable situation. I wish I had his firm to oversee my accounting in the years leading up to the audit as I may have been able to avoid a nerve wracking experience. His staff has worked with us to take advantage of unused deductions and fine tune our book keeping procedures to be more efficient which has also saved us money. They have been awesome to work with! "

    Sandy Powell - Nascent Naturals Inc.