tag:blogger.com,1999:blog-4402283548766807872.post2449130709876560241..comments2024-03-20T02:26:06.500-04:00Comments on The Blunt Bean Counter: CRA Audit- Will I Be Selected?The Blunt Bean Counterhttp://www.blogger.com/profile/11358868550072516313noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4402283548766807872.post-90785007475148326032015-09-10T12:26:01.955-04:002015-09-10T12:26:01.955-04:00Hi Anon
No idea, accountants have been trying for...Hi Anon<br /><br />No idea, accountants have been trying for years to determine what role GIFI plays in the audit process to no avail, at least to my knowledge.The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-81322465149438477562015-09-09T13:33:11.844-04:002015-09-09T13:33:11.844-04:00I am trying to standardize our office's basic ...I am trying to standardize our office's basic NTR template in Caseware with the GIFI codes, etc. If the GIFI code used on the prior year T2 differs from the code we will be using in our template, will this trigger an audit?? For example, code 9060 will be the code for wages in our template which will them be exported to our tax software, but on the prior year T2, the code used was 9066. Is this really a problem?? There are fears that this will definitely trigger an audit as the GIFI codes will no longer match.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-23816373064470489172014-07-29T13:16:51.670-04:002014-07-29T13:16:51.670-04:00Hey Glenn:
The daycare is a typical request for a...Hey Glenn:<br /><br />The daycare is a typical request for anyone who claims childcare expenses and consider yourself lucky that all you have been audited for is confirmation of expenses paid. Keep your fingers crossed and yes, keep your paperwork in order, it makes any audit a little more tolerable.<br /><br />The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-52662019504730221042014-07-29T08:40:16.893-04:002014-07-29T08:40:16.893-04:00We've never been audited, but we've twice ...We've never been audited, but we've twice had random requests from the CRA for proof of our filings. One time they wanted to see our personal reciepts for daycare expenses, and just this year they wanted to see receipts for one of our expense accounts in our corp.<br /><br />Because our documentation is solid, both inquiries were resolved without any issue. We simply copied the daycare receipts that totalled to the penny what we'd claimed and sent that to them. And then we pulled all the receipts for the expense account they wanted to see (again, matched to the penny what we'd claimed). <br /><br />For the corporate expense account request, they also demanded proof that we'd paid the invoices, so we had to go back and dig out bank statements and line those all up with the invoices. My wife/bookkeeper was stressed for a couple of weeks getting it all together and lined up.<br /><br />I think for the personal request, CRA was probably generally fishing for inflated daycare expenses. For the corporate request, I wondered if they weren't fishing to see if one of our suppliers was doing something, as we do use some independent contractors. <br /><br />Even if you're not doing anything wrong you still have to keep your paperwork in order. And if your paperwork is in order, then the worst CRA is likely to do is waste some of your time. Life Insurance Canada.comhttp://www.lifeinsurancecanada.comnoreply@blogger.com