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Net Worth Assessments

A net worth assessment (NWA) is an audit technique that allows the CRA to assess tax liability based on a taxpayer's lifestyle. The CRA analyses the taxpayer's assets, liabilities, bank deposits, and personal expenditures to determine the amount of funds he or she had available during a specific period. 

 

Read more about the NWA audit method, when the CRA uses it, and why it is often unreliable on our TAX BLOG

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 CONTACT US if you are being audited or were reassessed by the CRA using the NWA audit method