Tips on how to avoid getting audited
Posted April 22, 2013 7:25 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – If you’re still scrambling to file your taxes, there are some things you should keep in mind to avoid getting audited.
Ashleigh Patterson, Senior Finance Editor at Yahoo! Canada says you have a higher chance of it happening if you work in an industry where you may not always issue receipts after a transaction or have a lot of cash on hand.
That includes restaurant workers, mechanics, people who work in sales, construction owners, mechanics etc.
“If you don’t necessarily issue receipts, you have to provide some sort of documentation to show where you are generating this income from. So the biggest tip I can provide is organization is key, make sure you have not only all the information from this year but for the past six years on hand.”
She says one of the more common mistakes that could land you in trouble is not keeping receipts for charitable donations especially if you’re giving more than $250 dollars.
You also need to claim your T-5 which applies to any interest gained on investments.
Patterson suggests things will continue to change as well with more and more people filing taxes online. It means that you may not send in your receipts but you could be selected for a random audit and be forced to send in that extra documentation.
