May 19, 2013: Business reporter, Madhavi Acharya-Tom Yew, of the Toronto Star, wrote a useful article informing readers of the common triggers that increase the likelihood of a CRA tax audit, which are:

  1. Being self-employed
  2. Any big changes
  3. Recurring losses
  4. Big expenses
  5. Not blending in
  6. Aggressive tax planning
  7. Home office expenses

Dale Barrett of Barrett Tax Law advises, “If you participate in a variety of programs like tax shelters, donation schemes, any very aggressive tax planning, you will be audited, 100 per cent guaranteed. They will look into these plans eventually. It’s a matter of when, not if,” Barrett said. “Any aggressive tax planning scheme should be avoided.”

The article in its entirety can be accessed here.

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