Front lawns across Canada are sprouting For Sale signs. That this annual phenomena occurs at about the same time as the tax refund season may be purely coincidental. Understanding the financial incentives for home ownership available in the Income Tax Act may save you thousands when buying a home.
A letter arrives from Canada Revenue Agency (CRA). You are being audited. Panic ensues as you wonder what you did wrong and why the CRA is targeting you. "There must be bigger fish to fry," you might say to yourself.