💡 The federal government is proposing three major new powers for the CRA — and they could fundamentally change how tax audits work in Canada.

In this video, I break down the proposed legislation, why tax professionals and legal organizations are raising concerns, and what these changes could mean for taxpayers if they become law.

In This Episode, We Cover:

• The proposed power for CRA to put taxpayers under oath during an audit

• The new $50-per-day non-compliance penalty that could be issued directly by auditors

• How a single notice could remove the normal three-year audit protection window

• Why tax professionals and legal groups are concerned about the scope of these powers

• How the proposed rules could affect business owners, investors, and everyday taxpayers

• What Canadians can do now while the legislation is still being debated

💡 The legislation has been introduced, but it has not yet become law. Understanding the proposal now gives taxpayers an opportunity to stay informed and participate in the discussion before any changes take effect.

Resources

For additional tax resources, guides, and episode breakdowns, visit:

🌐 The Advisors Table: https://theadvisorstable.com

📞 Looking for Trusted Tax Advice?

Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group

📧 Email: [email protected]

🌐 Website: https://www.cedargroup.ca/

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👇 Comment below: Do you think these proposed powers are necessary to combat tax evasion, or do they go too far?

LEGAL DISCLAIMER: This content is for educational purposes only and does not constitute legal or tax advice. Always consult a qualified tax professional before making financial decisions.

00:00 – The CRA Is About to Get 3 New Powers

00:14 – Why These Changes Matter to Every Taxpayer

00:27 – Power #1: CRA Can Put You Under Oath During an Audit

01:18 – The Biggest CRA Audit Shift in Years

01:56 – Risks of Being Questioned Under Oath

03:39 – Power #2: The New $50/Day Non-Compliance Penalty

04:13 – How Auditors Could Issue Penalties Directly

05:07 – Why Even Cooperative Taxpayers Could Face Issues

06:55 – Power #3: Losing the Three-Year Audit Protection Window

07:45 – How One Notice Can Expand an Audit

08:50 – How These Powers Work Together

09:38 – What Canadians Can Do Right Now

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