Originally posted by chuckChuck
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My most recent experience federally relates to last springs budget. They changed how much a corporation could depreciate a newly acquired piece of equipment. I believe up to 100% in the first year. Hence my accountant applied this to my tax return. A month ago I received a bill from the CRA to pay more income tax based on the previous formula. I asked my accountant if I should pay it. He said no, that they were working at getting the CRA up to speed. And you think government is the only solution?! Pardon me while I laugh😂!
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