We are excited to introduce a new service offering to our clients – the Audit Shield Fee Waiver Service. Simply put, clients that participate in this service will have our fees waived for responding to audits, enquiries, investigations, or reviews instigated by the Canada Revenue Agency (CRA) or other revenue agencies.
Why are we offering this service?
The following key factors influenced our decision to offer our clients the Audit Shield Fee Waiver Service:
- The current volume of audit activity from CRA is more than we have ever experienced in the past
- Over $500 million of the federal budget has been dedicated to increasing audit activity
- Arbitrary audits continue to be carried out, irrespective of accurately filed returns
- The cost for accountants to respond on behalf of their clients can be prohibitive
- Even when your filing position is correct, there is no reimbursement from the CRA for any fees incurred
How does the service work?
When you are subject to an audit, enquiry, investigation or review on your tax returns we will waive the professional fees for responding (up to a maximum amount). The Audit Shield Fee Waiver Service provides full retroactive protection, so all previously submitted tax returns are protected automatically, provided that you receive notice of the audit, enquiry, investigation or review during the term of Audit Shield Waiver Service. An annual flat fee, which is tax deductible for businesses, is required to participate in this program.
Need more information?
If you would like to participate or have more questions, just give us a call at 905-947-4388.You can also visit their website at https://www.accountancyinsurance.ca/products-services