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Reliable tax & accounting insights for Canadians, with official CRA references.

At Sunrise Chartered Professional Accountant, we believe informed clients make better financial decisions. Explore our expert insights alongside authoritative resources from the Canada Revenue Agency (CRA).

Stay ahead of the curve with actionable advice from our CPA experts.

Explore Free Guides

Official CRA Resources

CRA Home Page

Access official CRA services and tax information.

My Account for Individuals

View your return status, benefit payments, and RRSP/TFSA limits.

My Business Account

File GST/HST, manage payroll, and view corporate balances.

Business Registration Online (BRO)

GST/HST Information

Registration, filing, and input tax credits.

Personal Income Tax

Credits, deductions, and filing deadlines.

Corporation Income Tax

T2 filing and corporate obligations.

Payroll Deductions & Remittances

CPP, EI, and income tax withholding guidance.

Important Tax Deadlines

Key CRA filing and payment due dates.

Corporations- Corporate Tax Guide for Canadian Businesses

Corporate Tax (T2) Guide for Canadian Businesses

Understand Your Corporation’s Tax Obligations, Filing Requirements, and Deductions

New Immigrants Tax Guide – Your First Canadian Tax Return

Learn What Income to Report, Which Credits Apply, and Key Deadlines for Your First Year in Canada

Personal Tax (T1) Organizer & Checklist for Families

Everything You Need to Prepare Your Personal Return, Maximize Credits, and Avoid Delays

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Emigrants & Non-Residents Tax Guide – Filing Before You Leave Canada

Know How to File Your Departure Return, Report Worldwide Income, and Avoid Double Taxation

Canadian Tax FAQs – Expert Answers from a Chartered Professional Accountant

Quick, reliable answers to frequent questions about tax deductions, audits, and compliance — explained by Sunrise Chartered Professional Accountant.

Whether you’re a business owner, incorporated professional, or individual taxpayer, understanding Canada’s tax system can save time, stress, and money. Here are some of the most common questions our Winnipeg clients ask — with clear, practical answers from a CPA.

Anyone who earns income in Canada — including employment, self-employment, rental, or investment income — must file a tax return.

Even if you didn’t earn income, you may still want to file to claim benefits like the GST/HST Credit or Canada Child Benefit.

Deductible expenses are reasonable costs you incur to earn income. Common examples include:

Office rent, utilities, and insurance
Salaries, subcontractor payments, and employee benefits
Professional fees (accounting, legal, consulting)
Advertising, website, and marketing costs
Vehicle and travel expenses related to business activity
Supplies, software, and tools used for work

Keep detailed receipts and maintain organized records — the CRA may ask for documentation during a review.

Yes, if you regularly use a workspace in your home to earn income or meet clients.

You can claim a portion of:

Rent or mortgage interest
Utilities, internet, and maintenance costs
Property taxes and home insurance (if self-employed)
The amount must reflect the percentage of your home used for business.

Personal expenses are not deductible.
A business expense must be directly related to earning income. For example:

A business lunch with a client is deductible (up to 50%).
A family dinner is not.
Office software is deductible; personal streaming services are not.

Keep all receipts, invoices, and supporting documents for at least six years after filing your return. If the CRA reviews or audits your file, you must be able to prove your income and expenses.

CRA audits are often triggered by:

Large or unusual expense claims
Frequent losses reported by a business
Inconsistencies between reported income and CRA data (like T4s or T5s)
Industry benchmarks that don’t match your figures
Random selection
Being selected doesn’t necessarily mean wrongdoing — it’s often a data verification exercise.

A CRA review is a routine check requesting documentation to verify claims (like medical expenses or donations).
An audit is a more detailed examination of your entire tax return, books, or financial records.
Respond promptly and completely to CRA requests — and consult a CPA if you’re unsure how to proceed.

The CRA charges:

5% of the unpaid tax as a late-filing penalty, plus 1% per month (up to 12 months).
Daily interest on any balance owing.
Filing on time, even without full payment, helps minimize penalties.

Yes. If you discover an omission or error after filing, you can request a change using a T1 Adjustment (T1ADJ) for personal returns or a T2 Adjustment for corporations.
Always attach clear documentation supporting the correction.

A Chartered Professional Accountant ensures your return is:

Filed accurately and on time
Optimized for deductions and credits
Compliant with CRA rules to minimize audit risk
Strategically structured for long-term tax savings (especially for business owners and corporations)

Working with a CPA also helps you plan ahead — not just file once a year.

Review your RRSP and TFSA contribution limits annually.
Keep your vehicle mileage log if claiming auto expenses.
Split income legally using spousal RRSPs or dividend strategies (for corporations).
Stay proactive — meet your CPA before year-end for tax planning, not just after.

Understanding your tax responsibilities helps you stay compliant and confident.

At Sunrise Chartered Professional Accountant, we provide personalized guidance for individuals, families, and business owners across Winnipeg and Manitoba, ensuring your taxes are filed accurately and your deductions fully maximized.

Canadian Tax FAQs – Common Questions Answered by a CPA Quick, reliable answers to frequent questions about expenses, audits, and more.

Stay Informed, Stay Ahead

Tax laws and accounting standards change frequently. Visit this page often or subscribe to our newsletter for updates, tax-saving strategies, and CRA policy changes that impact your business or personal finances.

Resources & Blog