ARTICLE · 08 NOVEMBER 2012

CRA Provides Update On Audit Priorities And Activities

Dentons Canada LLP

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At the Canadian Tax Foundation’s recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference’s "Tax Administration Panel".

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Timothy Fitzsimmons

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At the Canadian Tax Foundation's recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference's "Tax Administration Panel".

The CRA was represented by Fiona Harrison, Manager of the Resources Section at the CRA's Income Tax Rulings Directorate, and Jeff Sadrian, National Director of the CRA's Large Business Audit Programs.

In the course of the presentation, the CRA discussed a variety of issues (see the "Tax Administration Panel" conference slides), including "red tape" reduction, the CRA's trust audit project, Regulation 105 waivers, ABIL claims, and omission penalties under s. 163(1). The CRA confirmed that it determines audit priorities based on the "highest risk", and that it is continuing its "intelligence-based risk assessment" of taxpayers to determine which files will be selected for audit.

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