iTRUST Financial Group

CRA Increasing Audits of High-Net-Worth Individuals & Related Entities. The Canada Revenue Agency (CRA) has significantly expanded its audit approach for high-net-worth individuals and families.

These audits now go beyond personal tax returns. The CRA is reviewing entire networks of related entities — including corporations, trusts, partnerships, and family members — to assess overall compliance.
🔎 What this means:
• Broader and more detailed audits
• Requests for extensive financial documentation
• Review of reorganizations and tax planning strategies
• Possible lifestyle and bank deposit analysis
• Increased use of technology and international data sharing
• Longer audit timelines

The burden of proof rests with the taxpayer. Incomplete or delayed responses can result in penalties.
📂 Key Takeaway:
Strong record-keeping, transparent reporting, and proactive compliance are more important than ever.
If you or your family operate through corporations, trusts, or complex structures, it is wise to ensure your documentation and reporting are fully in order.

At iTrust Financial Group, we assist clients in preparing for and responding to CRA reviews with clarity, structure, and professional guidance. If you have concerns or would like a compliance review, feel free to contact us.

📘 BARRIE! Tax season is here!!

Upcoming Schedule & WALK-IN Location:

Starting at 10:30 AM and ending at 6:00 PM.

March 2026:

Sunday March 15th
Sunday March 22nd
Sunday March 29th

April 2026:

Saturday April 11th

At the Barrie Best Western Plus Hotel [access by the parking lot side-door]
35 Hart Drive
Barrie, ON L4N 5M3

Accounting | Tax | Advisory
📞 416-740-5413 | 905-282-0123
✉️ [email protected]
🌐

iTrust Financial Group Expert solutions for individuals and businesses.

🤝 Why Clients Choose iTrust
Tax filing is not just about submitting a return — it’s about getting it right.
At iTrust Financial Group, we:
✔️ Guide you on CRA accounts & authorization
✔️ Use AFR responsibly (not blindly)
✔️ Help reduce reassessment risks
✔️ Focus on long-term compliance, not quick filing

📌 Whether personal, business, or self-employed — do it right the first time.
📞 Reach out early.
📍 iTrust Financial Group — trusted, practical, professional.