The Canada Revenue Agency (CRA) is Canada’’s federal agency which is in charge of governing over the Income Tax Act. It strives to guarantee that citizens in Canada will pay their expected share of taxes and that the tax base is well protected. It can be said that the CRA is the Canadian counterpart of USA’’s IRS.
Before delving deeper into what CRA does, let us first look at a brief history of the CRA and where it came from. The Canada Revenue Agency used to be called Canada Customs and Revenue Agency (CCRA). However, a federal government restructuring in 2003 caused the separation of the agency’s revenue and custom responsibilities. As an effect, customs responsibilities were given to Canada Border Services Agency. On the other hand, Revenue Canada was established for responsibilities concerning revenue, and soon it was called the Canada Revenue Agency.
Moving on, the CRA manages tax-related laws for Canada’’s government and for the majority of its territories and provinces. It also administers a number of economic and social incentive and benefit programs provided through Canada’’s tax system. Other programs which the CRA administers include legislation regarding international trade, Canadian charity registration, and the Scientific Research and Experimental Development Tax Credit Program. By the way, how does CRA ensure that Canadian’s properly pay their taxes? Let us find out how.
First, CRA does a comparison between the information that is given by a taxpayer and information which is presented by third parties like the employer of the taxpayer. In the event that CRA determines a number of discrepancies, it computes the total income tax that can potentially be reclaimed. This particular procedure of the CRA brings much concern to tax payers from whom CRA finds such discrepancies. As a legal measure of defense, taxpayers who face the said situation usually come to Canadian tax lawyers after they have been evaluated more than once by the CRA and need representation to the Agency.
Canadian tax lawyers deal with tax-related disputes with CRA and negotiate with CRA as well as with provincial tax authorities.
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