How to Handle Reassessments by the CRA

No business owner I know wants to receive the dreaded CRA notice of reassessment in the mail. But if you do get a notice of reassessment, don’t panic.

The first thing you should do is contact your accountant so they can walk you through exactly what the CRA is attempting to reassess. In some cases, reassessments aren’t correct and without a knowledgeable accountant and/or tax lawyer, you can end up paying more than you should.

Responding in a timely manner is key so don’t ignore these notices. Take the time to understand your options - the more information you have, the better equipped you will be in responding.