Background: Base on gross business income earned, home office business expenses may be deducted from business income. The business expenses that are allowed to be deducted, among other, include the prorated portion of rent, capital cost allowance, property insurance,...
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Summary : In 2005, the Canadian Revenue Agency (CRA) launched the Related Party Initiative (RPI), more commonly referred to as the High-Net-Worth Project or the Billionaire’s Audit. The objective of the RPI is to target high net worth individuals...