Goldhar Consulting & Tax Solutions Inc will help you with any disputes you have regarding your tax and income assessments and deal directly with the CRA, so let’s get started! Call today toll-free at 1.877.TAX.AID1 (1.877.829.2431).
Have you failed to file a tax return or misrepresented a portion of your income in your filing? You may be subject to a “Net Worth” assessment. A “Net Worth” assessment is a tool used by the CRA to identify and assess underreported income. Assessing an individual’s net worth is used if the “taxpayer’s assets have increased without a corresponding increase in sources of funds or income or if reported income does not support the apparent lifestyle of the taxpayer” – (Canada.ca) If you have misrepresented your income and try to claim this as a gambling win or a bequest from a deceased relative, you will want to make sure you have adequate records to prove these “gifts” or “winnings”.
