Guess what? The CRA actually admitted they were wrong about part of CEBA! They were not clear about eligibility near the start for small businesses, and are giving people a break if they were fooled by this. But make sure you get it right! Not everyone is getting a break!
Deadlines are coming for CEBA loan repayments and the CRA is on a rampage going after people who may not have been eligible for the grants they took. Lots of audits are happening, and it can be hard to navigate!
Did you know that forgetting to respond to CRA emails or letters is not an excuse to not file your taxes? Unless you can prove that you never received the email or letter, you are on the hook and they will come after you for it. Don't wait! Respond to that brown envelope right away.
Do you run your own business and share the income with your spouse? Make sure that you're doing it properly, or the CRA might not like it. The best thing you can do is have the right strategy going into it, so hire an accountant today!
