The 5 CRA Audit Triggers Catching Canadians Off Guard

Video Description

Book a call with me here: https://calendly.com/s-francescut-ipcsecurities/30min The CRA has significantly expanded its audit and enforcement technology, and many Canadians don’t realize how advanced — or targeted — these efforts have become. Using artificial intelligence, data analytics, land registries, crypto reporting, and international information-sharing agreements, the CRA is now focusing on specific areas where they believe tax mistakes are most likely to occur. In this video, I walk through the five CRA audit targets that matter most for Canadians who are nearing or already in retirement. These aren’t extreme tax shelters or obvious evasion schemes. They’re everyday situations that many people assume are fine — until they trigger an audit, reassessment, penalties, or extended review periods. We cover how the CRA is scrutinizing real estate transactions and misuse of the principal residence exemption, including property flipping, rental income, and failure to properly report sales. I also explain why aggressive tax planning structures, family trusts, and holding companies are under closer review, and what the CRA now expects to see in terms of real economic substance. You’ll learn why foreign property reporting using Form T1135 continues to be a major audit focus, how TFSA misuse and business-like trading activity can result in fully taxable income, and why over-contributions are still one of the most common and costly mistakes. We also break down the CRA’s new crypto-asset reporting framework and why even long-held digital assets can now be identified and cross-referenced. Most importantly, I explain what you can do to protect yourself — including proper documentation, conservative reporting, reviewing complex structures, and when the Voluntary Disclosures Program may be appropriate. For Canadians with accumulated wealth, proactive compliance is far less costly than reacting after the CRA contacts you. If you’re within 10 to 15 years of retirement, or already retired, this video will help you understand where the CRA is focusing its attention and how to make sure your tax planning remains compliant, defensible, and stress-free. #crataxes #canadiantaxes #retirementtaxplanning #craaudit #tfsa #foreignproperty #t1135 #principalresidence #cryptotaxes #retirementcompliance #taxmistakes #wealthplanning #retirementstrategy #canadianretirement #taxplanningcanada #tfsaerrors #realestatetaxtips #cryptoreporting #taxcompliance #financialplanningcanada