CRA to expand EFT audits in 2017, PwC warns

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The next two years will see an expansion of the Canada Revenue Agency’s efforts to review international funds transfers (EFTs), which means many taxpayers can expect to see an “EFT letter” next year, according to a recent PricewaterhouseCoopers LLP (PwC) Tax Insights brief. The CRA initiative builds on efforts by the agency that since the beginning […]

The Five C’s of Credit

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When lenders are evaluating a loan request, whether it be a mortgage or a car loan the principles of the five C’s of credit are applied. There are varying formulas that are utilized for each of the C’s but nonetheless each category’s weight contributes to the final decision. A method used by lenders to determine […]

Steps to Credit Repair

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CREDIT REPAIR Whether you have been Bankrupt, in a Credit Proposal, Under Collection, have Un-Paid Judgments, or simply no credit at all, you can still buy a house. Get someone to buy the house for you. Simple easy and bam you are getting a house. But do not forget to tell them why you need […]

What is T4 Slip?

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T stands for Tax Slip and 4 is number assigned by Canada Revenue Agency to classify Employment Income. T4 slip provides detail of your annual income and deductions. T4 slip is issued by your employer and sent to Canada Revenue Agency and a copy is provided to you.  You have to report your employment income […]