Wave of CRA Audits Hit Small Businesses
Small businesses prepare--there's a wave of CRA audits going round. Small businesses with fewer than 500 employees make up a big part of Canada's economy. Many of these small businesses are Canadian-controlled private corporations (CCPCs). To survive and thrive, small businesses must be agile and responsive to changing local and international economic conditions. The pandemic-related employment shrinkages mostly affected small businesses. As Canadians try to move forward, CRA is also moving forward with many audit letters.
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