ARTICLE · 26 NOVEMBER 2012

Canada Revenue Agency Toronto Centre Tax Services Office Describes Current Audit Issues

Dentons Canada LLP

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The CRA clarified that Tax Earned By Audit remains a metric for measuring "tax at risk", but it is not used to measure the performance of an auditor.

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At today's Canada Revenue Agency Toronto Centre Tax Professionals Group Breakfast Seminar (November 14, 2012), the CRA provided an update on a number of current audit issues.

The CRA was represented by Sal Tringali, Regional Technical Advisor of Aggressive Tax Planning, and James McNamara, Manager of International Taxation and Aggressive Tax Planning Audit Division from the Toronto Centre Tax Services Office. The discussion was moderated by Jacques Bernier (Baker McKenzie LLP) and Rachel Gervais (BDO Canada LLP).

The audit issues highlighted by the panel included the following:

GST/HST

Recapture input tax credit
ITC allocation % - mixed supplies
Financial services

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