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发表于 2007-5-26 23:16
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Talked to the company's accountant. Share with everyone here ---$ V3 Q) p" v! s7 d9 Q
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Basically, as long as my one-person-business report gain to CRA , and the business pays CRA employer CPP, employee CPP, and deduct Personal Income at source, there is no reason to afaid CRA audit, even though my business has only one source of income from employment (which might disqulify my business as a business). CRA does not really care if your one-person business is self-service or a real business (like a resteraunt), when your business pay the tax and source-deducibles.2 M6 m. @1 B% J Z1 k2 }0 W( ?
' q: x' { \4 B* T1 h& kSome one-person business attempt to do one of the followings
) {. ^# N! y* u8 D5 r* n* y) Q8 l(1) Do not pay employer CPP. if CRA catch him, he has to pay back plus intestes. But there is no penalty for this "mistake".' o" n+ n3 j @) ~5 R
& `$ A4 @- {" A9 U' E) n(2) claimed too much expense from the business, so as to make the business a loss. trying to use the loss to write off some personal income.
! N6 c- C, F/ a& `+ ~, [, ^8 tThey might face CRA auditing. They might needs help from professional accountants.
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1 T% O: r/ D2 [% A+ G3 ZEvery friend here, Do not be afaid of start your one person business. It is not that complicated as many professional accountants tried to warn you. Just follow the CRA documents paying them Tax, you will not have any trouble. |
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