Published: December 12, 2023
The Canada Revenue Agency (CRA) has revealed that $458 million in funds distributed to employers through a pandemic-era wage subsidy program have either been denied or adjusted. This decision is a consequence of an ongoing tax auditing process that is not yet complete.
The CRA published a report on November 27, 2023, providing detailed insights into its audits of the Canada Emergency Wage Subsidy (CEWS) Program. While the primary focus of the findings pertains to the period ending March 31, 2023, the report also includes more recent figures up to September 29, 2023.
The majority of CEWS claimants denied by the CRA used third-parties for application preparation.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
