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Peter Kupovics, CPA, CMA, MBA

    • Home
    • Why Us?
      • Back
      • Our Value
      • Our Approach
      • Our Guarantees & Offers
      • Our Philosophy
      • Our Strengths
    • About Us
      • Back
      • About Us
      • How Are We Different?
      • Our Core Values
      • Business Health Check
    • Services
      • Back
      • All Services
      • Accounting, HST, and WSIB
      • Taxes, Tax Planning, and Tax Advice
      • Financial Statements and Business Advice
      • Reality Check
      • Payroll
      • Accounting Software
    • FAQs
    • 2024 Automobile Deduction
    • About Our Clients
      • Back
      • Our Ideal Client
      • Client Spotlight
    • Contact Us

Common Mistakes on your Tax Return

By Peter Kupovics on April 9, 2014 Comment BubbleLeave a comment

Canada’s tax system is based on self-assessment. This means that individuals voluntarily complete an income tax return to report their annual income and claim all deductions or credits that apply to their situation. In this way, you are able to calculate the amount owing or the refund to be received.   Form - T1 Tax form

Each year, the CRA conducts a number of review activities that promote awareness of and compliance with the laws it administers.  Review programs promote taxpayer education by identifying common areas of misunderstanding. Analysis of results and feedback from taxpayers are used to review and improve the guides and forms that CRA provides to the public.  For a list of errors most frequently made by taxpayers on their income tax return, see Common adjustments.

And remember, it is a review –  does not represent a tax audit.

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