Mistakes That Trigger CRA Audits and How to Avoid Them
Short answer: Most CRA audits in Canada start because of identifiable risk factors and not random selection. Things like missing records, unreported income, cryptocurrency transactions, large unexplained deposits, and ignored CRA letters often attract additional scrutiny. When you file your tax returns in Canada, it does not necessarily end your interaction with the Canada Revenue […]
What Is a Residential Rental Licensing Program (RRL) in Canada?
Short answer: Residential Rental Licensing (RRL) in Canada requires landlords to register rental properties, meet safety and zoning standards, and get a municipal license to legally rent units. Non-compliance can result in strict penalties for landlords. The Residential Rental Licensing, or the RRL, is a municipal compliance system that requires landlords in Canada to register […]
FIRE: Financial Independence, Retire Early in Canada
Quick answer: FIRE in Canada means building enough investments to cover your annual expenses through disciplined saving and investments and proper use of tax-efficient accounts to help you save for your retirement. Financial Independence, Retire Early (FIRE) focuses on building enough invested capital that is able to cover your living expenses without having to rely […]