The Canada Revenue Agency (CRA) has set aside relief provisions for those who wish to have their expenses waived or canceled. The term "cancellation," suggests that relief is allowed for a penalty that has been calculated. The term "waive" suggests that relief is allowed for a penalty that has not been calculated. The term "waive" suggests that relief is allowed for a penalty that has not been calculated. Filing for relief is a tricky business and requires a host of supporting reports. Seeing how the CRA takes as much time as is needed to respond to an application, applicants are advised to look for expert help and get it right the first time. Tax planning for business tax returns can go a long way in avoiding penalties from the CRA.
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