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