CEWS - Business owners be prepared

Sep 25, 2020 | Jeremy Goldfarb


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From the planning desk

 

Business owners and employees alike are well aware of the struggle of the past number or months. With government programs galore raining like Manna from heaven on high, you had to know that the audit process would be an adventure in and of itself. It looks like the first round of this challenge is beginning in earnest, and difficulties are arising out of the gate. The CRA launched a sample audit program which is being met by disdain due to the enormous amount of information being requested. 

 

There have been sample letters posted online (see here) showing the long list of requirements being requested by CRA. In one case comment so far, one professional states that the fees for assembling the audit information may exceed its benefit......

 

You can find more details on this story from the following two articles

  1. Advisor.ca 
  2. Moody's