Penalties & Interest
Penalties & Interest — All content on The Advisors Table.
Episodes
EpisodePoliticians Keep Lying About Tax Cuts
How government headlines hide the fine print—and why your “tax cut” might actually be a retroactive tax hike in disguise.
- Penalties & Interest
- Business Owners
- Founders & Entrepreneurs
GuestThe IRS And CRA Double Tax Trap For Canadians
What no one tells you about the million-dollar tax traps, IRS penalties, and the entity mismatch that can bankrupt your investment.
- Estate Planning
- Business Sale
- Corporate Reorganization
EpisodeImmigration Tax Traps That Cost Thousands
What no one tells you about foreign assets, worldwide income, and the CRA penalties that can wipe out your savings.
- Estate Planning
- Business Sale
- Corporate Reorganization
EpisodeThe Audit Machine – What 53,000 CRA Employees Are Actually Doing
How CRA's growing audit machine uses data, automation, and aggressive enforcement tactics to identify risks, escalate reviews, and collect billions beyond regular tax filings.
- Estate Planning
- Business Sale
- Corporate Reorganization
Posts
The Tax Rule That Punishes Canadians for Helping Family — And What You Can Do About It
New CRA bare trust filing catches family bank accounts, joint titles, crypto held for relatives—$50K penalties even if you owe $0 tax. Bill C-15 passed House, Senate next. Sign petition + download checklist before 2026 tax year.
3 CRA Powers Coming in 2026 That Every Canadian Needs to Know
The CRA's new 2026 audit powers — compelled sworn testimony with no transcript, $50/day penalties without a court, and reassessment clocks frozen indefinitely. Here are the three every Canadian needs to understand.
CRA’s 5 Most Dangerous Weeks: What TEBA Means for Your Next Audit
What is TEBA, and why does it make February–March the most dangerous weeks for a CRA audit? How the CRA's March 31 year-end drives aggressive reassessments — and a 3-phase plan to protect yourself.
$800K Tax Bill That Should’ve Been $0 — The 5 Mistakes That Cost This Business Owner Everything
Discover the 5 critical errors that turned a $0 tax bill into an $800K disaster for a business owner. Learn how to protect your company from CRA reassessments, audits, and massive penalties.
Visual Guides
What To Do When CRA Audits You
Getting a letter from CRA is not the end of the world — but how you respond in the first 72 hours can change everything. Most business owners panic. Some ignore it entirely. Both are mistakes. After 15+ years of defending clients through CRA audits, here are the 9 things I tell every single client the moment they get that letter: 1️⃣ Don't panic — but don't ignore it either 2️⃣ Call your tax advisor before you call anyone else 3️⃣ Understand what type of audit you're dealing with 4️⃣ Organize your records — and only what they asked for 5️⃣ Know your rights as a taxpayer 6️⃣ Respond strategically, not emotionally 7️⃣ Prepare for the reassessment before it comes 8️⃣ File a Notice of Objection if you need to 9️⃣ The one step most people skip (slide 10 👀) Save this post. You might not need it today — but when that letter shows up, you will want it.
Where Does Your GST Go?
The government collected $52.5 billion in GST last year. The interest on the debt? $54 billion. Your GST pays for nothing.