Making a quick call to the CRA probably doesn’t seem like all that big of a deal for you, especially if it’s a fairly common question that you have to ask. If it is a bit complex or has something to do with the answer having a significant impact on your business then you may be far more hesitant. This is the time that you really need your Toronto Accountant to be your spokesperson as well as your advisor.
There have been times in the past where the small business owner has made inquiries of CRA regarding a tax concern and have received the wrong information. This individual then acts upon this information only to find out that perhaps the CRA has rejected it. There is no recourse for the taxpayer who made every effort to seek out accurate information. In most cases they can’t remember who they talked to and most likely if they were given a name at all from the CRA agent they were talking to it would have been a first name only. Trying to track back the source of the information is almost impossible.
So you may be thinking that this same circumstance could happen to a Toronto accountant as well. Yes, this is very true, but at least this professional is far more experienced in knowing whether the information they were given is feasible. The average taxpayer does not know this.
It seems that this year that the Canada tax officials is really trying to make the effort of making the tax system far less complicated in regards to all the red tape an individual has to go through just to use the tax resources that are available. The one step they are taking this year is to provide the tax information providers at the CRA with a tax ID number. Now at the very least if you have a dispute with information that you have been provided with, you have a re-course as to the source of the information with the tax ID number.
That really doesn’t solve the problem of the accuracy of your information. Unfortunately you won’t know the validity of it until you apply it and see whether it has been accepted.
By using a Toronto accountant to deal with your tax matters at least you have a resource immediately on hand that you can count on and trust to get the right answers for you. Sometimes it just comes down to asking the right question to ensure that there are no misunderstandings with the feedback you receive to your tax query. If you need my assistance in speaking to the taxman please fill out the contact form on the right or give me a call at (416) 398-1700.
