General Tax Counselling

Insta-Tax Corporation > Tax Audits

As a part of our commitment to you, Insta-Tax Corp. is here for all of your personal income-related needs. No matter what time of the year it is, our team will help you with any correspondence received from the CRA.

Because the system for processing Canadian taxes is primarily based on self-assessment (i.e. the honour system), you’re responsible for reporting what you owe, claim, or should receive as a refund. This is what our team has been doing since 1992, and pride ourselves in knowing the system inside out.

How does a review happen?
Each year, the CRA conducts a number of review exercises to promote awareness of and compliance with the laws governing Canadian taxes. It also helps identify common areas of misunderstanding. There are several reasons why a specific tax return filing may be chosen for review, including random election, comparison of information on return to what was received from a third-party sources, types of deductions or credits claimed, and an individual’s review history.

How does the CRA process my return?
Whether you choose to file by mail or electronically, the process of selecting returns from review is the same. Most of the 25 million income tax returns filed each year are processed within two to six weeks. The CRA processes most Canadian taxes without conducting a manual review so that a Notice of Assessment and/or refund can be issues as quickly as possible. However, all returns are screened by the Agency’s computer system and may be subject to review at a later date.

How should I prepare for my filing?
We recommend you keep all receipts and documents to support your claims for at least 6 years in case you are selected for review.

To schedule a free consultation, call (905) 737-5811.