CRA found more than $1B auditing smaller businesses last year
The average amount identified per small business audit was $137,000
The Canada Revenue Agency identified $1.185 billion from audits of small and medium-sized enterprises (SMEs) last year, said CRA officials speaking at the Canadian Tax Foundation’s Ontario Tax Conference held in Toronto in late October.
Article Courtesy: https://www.advisor.ca/tax/tax-news/cra-found-more-than-1b-auditing-smaller-businesses-last-year/