OUR SERVICES

Audit Support

Guiding You Through CRA Audits with Expertise

CRA audits can be intimidating, especially for small business owners juggling day-to-day operations. We take the burden off your shoulders by managing the entire audit process on your behalf. With over 22 years of CRA experience, we understand the intricacies of the audit process and how to position your case for the best possible outcome.

Our Services Include

Comprehensive Audit Management: We handle all communications with the CRA, ensuring that every document, explanation, and response is managed professionally.
Strategic Planning: We analyze your financial records and develop a robust strategy to address any discrepancies or challenges the CRA raises.
Rights Protection: We act as your advocate, ensuring your rights are protected throughout the audit process.

Why Choose Bell Tax Advisory?

James, with over 33 years of experience in this field, including his 22+ years working at the CRA, is able to offer a unique perspective to resolve disputes efficiently and effectively. James and Bell Tax Advisory are committed to providing tailored solutions, strategic insights, and the dedicated support you and your clients need to achieve the best results.

Why Partner with Bell Tax Advisory?

Testimonials

Frequently asked questions

What can trigger a CRA audit?

CRA audits are often triggered by discrepancies or red flags in your tax return, such as unusually high expenses, repeated losses, or income that seems too low for your lifestyle. Other triggers include inconsistencies with industry norms, prior audit history, or unfiled returns. Some industries, like construction or hospitality, face higher scrutiny. Even third-party audits can result in your business being examined.

How far back can the CRA audit my returns?

Generally, the CRA can audit a return filed within the last three years. This is called the “statute-barred” period. However, if they suspect fraud, neglect, or misrepresentation, the CRA can go back as far as they want. They may also extend the audit period if you’ve signed a waiver or are part of a specific industry review.

What happens during a CRA audit?

he audit process usually starts with a phone call or letter from the CRA requesting specific records. Audits may occur on-site at your business, at a CRA office, or remotely. The auditor reviews your financial records, asks follow-up questions, and may request interviews or additional documents. After analysis, you’ll receive a proposal outlining changes. You’ll have a chance to respond before a final reassessment is issued.

What should I do if I’m being audited?

First, don’t panic, but don’t ignore it either. You are required to cooperate, but you should avoid volunteering unnecessary information. The CRA may expand the audit if new issues are uncovered. Keep detailed records and avoid informal conversations. Most importantly, don’t go it alone. Engaging a tax professional early helps ensure that your responses are accurate, strategic, and limited to what’s required.

What happens after an audit is completed?

Once the CRA completes its review, it will issue a proposal letter outlining reassessments. If you disagree, you’ll have 30 days to respond with supporting arguments. If unresolved, the CRA finalizes the reassessment and may apply penalties and interest. You can then file a Notice of Objection within 90 days. Many cases are resolved at the proposal stage if handled effectively.