October 21st, 2007 by Questions
special collection abilities of the of the cra what are they? Also what is a trust examiner? Thanks for time this is good website
October 22, 2007 at 8:05 am, A licensed trustee said:
The Canada Reveiw Agency (“CRA”) hos no special or extraordinary powers, but because hey have access to so much more information about you than an average creditor you should be prepared for them to “know” things that you might not expect them to “know”.
A trust examiner is CRA employee that specializes in reviewing “trust” accounts – these are things like your employees’ source deductions and GST. Their purpose is to determine if you have filed your trust returns accurately and paid the appropriate amounts to the government.
If CRA has scheduled a trust examination of your business you should speak to your accountant as they should be involved. If you don’t have an accountant then be prepared to provide the examiner with all of your financia records (right down to cancelled cheques and receipts for expenses).
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