Understanding the CRA Unreported Income Formula: Accounting for GST/HST and Changes in A/R

Why should a business owner be concerned about their account’s receivable balance during a tax audit? The answer to this question has to do with how the Canada Revenue Agency (‘CRA’) normally calculates unreported income while performing a factual audit. CRA ‘Unreported Income’ Formula In most scenarios, the CRA auditor starts collecting data for the […]