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18 - warnwocnnoulaz c‘l‘HUISDAY, OCTOBER is. are Don’t panic if you get called for an audit by the CRA > reason is a change in report- they are looking at and the books and records, invoices, income rate with a five per feel confident should an audit log. taxation years that are being bank statements and more, cent interest rate compoundâ€" come your way and about \l ‘\ l\ 5 ‘\ You‘re a small business reviewed. only provide them with what edda'liy. every other aspect of your .“ ( ) \ |\ owner. a contractor or free- The audit process often they’ve requested and nothing in rare cases, your tax bill financial future. . » lancer and report big swings begins with a personal inter- more. may be lowered or you could Your professional adviser in revenue and expenses, up View between you and the it's also standard prac- possibly end up owing noth» can help give you the confi- }. or down year-to~year. auditor representing the CM (ice to refer the CRA to your ing at all. ' denoe and financial assurance $ Your company's gross ’lhe first rule of audit: Park authorized representative Audits are just part of our you need. . margins are different than any hostility and be open and â€" usually your lawyer or msystem. is others in the industry. honest. aocounan You can take the sting out '" _ ‘ {Q5 E You collect a low rate of Often the auditor is there Depending on the com- of them by-malntaining good Manhunt: Isproulded by ‘ GST compared to revenues to simply check on some plenty ofyour books, an audit books and records. being able McEachnie Group Private j ’ ’ generated. details of your return and will can take a few weeks, or a few to justify the positions you've Wealth “WWW” Contact . I . On your individual retum leave without any changes. years. taken, and working coopera- Russ Mcmmfi CFRCPCA, 3 you simply claim a specific While the CRA does have If you do owe money at dveiywiththeauditor. CDFA, MC PW‘W' “519 deduction for thefirsttime. the ability to request docu- the end, the payment will be When your tax and finan- 8832380! ext. 52?) 0’80 ‘0 ‘ Any or all of these can ments from you, such as calculated at your prescribed cial life are in order, you'll nosmcoachmecom. » . . be red flags for the . oufiledyourtaxretum CRA, although the in! i on time and paid all CRA doesn't pro- v . Q g yourtmles. vide any guidance , fag , ' - ' ~ At leastyouthinkyouhave on what may force an 4.3.5 v . ‘ - “if . and then you get that dreaded audit to happen â€" ”M“ g," g 2 . ‘ notification from the Can- and, in fact, an audit - .- ' g ada Revenue Agency (CRA): selection may be oom- 71 ‘ r. ' You're being audited! pletely random, used a is t , . Allyoucanseeattheend awaytolreepCanada's "’ .' of this is a his tax bill. but that self-reporting tax sys- doesn't have to be the case tern honest a? when you know in advance if you‘ve been cho~ ‘ ' 7 what you maybe gettinglnto. sen for an audit, you'll i“ * There is no guaranteed receivealetterfromthe 3g ~‘,-‘._'i: ‘ ‘ audlt trigger but a common CRA telling you What _“g}. a; A, . Conesto a Colle e. g. , g _ . .. names Benmnger chair 4 . » , -- . Peter Benninger, found- estoga, one of Canada's >' ' er and owner of Coldwell leaders irl polytechnic edu- I . p v _ Banker Peter Benninger cation." Benninger said lrl a ' A; Realty, has been appointed press release. , . ’ aschairoftheboardofgow “The college's commitâ€" . enlployeeS, ; emors for Conestoga Col- ment to excellence in the - c’ ‘ \ legelnstitute ofTechnology delivery ofcareer»focused Chlldl’en, parents and ‘J and Advanced learning. programming and applied t He has served as a mem‘ research has made a tre~ I - bereftheboardsinerOlZ. mendous impact on work CUS omers ’ Benninger has been force development and the * recognized with multiple prosperity of our commu~ awards over his 39-year nity.lloolt forward toworiâ€" M t th w h I real estate sales career. His ing with the board and the ee e e r es ’ realty firm in Kitchener executive team to continue employs more than 100 to build on that strong leg- 0 n Fa ce bOO k people acy-' in addition to his busl- Bennlnger replaces ’ . x ‘ ness success. Benninger is Frank Boutzis, partner in ' ‘ well»known for his long- charge at GTA Enterprise at standing support and com- ICPMG, who completed his mitment to many oommu- sixâ€"year term on the board . any organizations, includ» in August 20"; Baum, it 5 called the sandwrch generation and the Wehrles of Kitchener are a perfect example of why mld-Ilfe can be so ing Canada's Technology served as board chair from fmancrally complex Wlth Lucy and Brett's unique approach to real estate, thls self-employed couple also have TWvQ-MUY' Hospital ”if-Wm”- parents and lourchlldren at varrous stages olllte to consrder Thankfully/Ahoy also havea UbroCoach,acarlng, and “M‘MHM‘ We 100k f°"”"d to financial expert who gurdes their chorces so all the pleces and plans lead to the same place - that being. He's been recognized working with Peter as the t f r ll th W hrles for his ongoing efforts to new board of governors 070309“ y o a e e . raise funds. equipment and ghair,’ said Conestoga Presâ€" resouroesforfiresaietyproâ€" identlohnfibbltslnapreu ‘ Kitchener and release. 0 . ngfi amen“, mm mm", bum,“ “ What happens next? Follow the Wehrles and the” s“ and has received both the expertise and lea-"dig lefO Coach on Facebook to learn how they find hf? silizlffisfirAgfifi for: a] cmfjfiw “In” financial and busnness balance over the next several I ro nity Service Award as pan mmefimnww months. Or vrsrt “but.“ for the whole coaching story cm,” “mo" of the Waterloo Region and evolzfe to meetjhmgd Home Builder's Association ing wor orce nee s an Awards ofDistinction. promote economlc pron- pmwrw‘ “I am honoured to be Wm” region “4 savrng- borrowtng. investing - shanng appointed as chair of the beyond.“ » board of governor! for Con-