Net Worth Assessments

A Net Worth Assessment is a powerful tool used by the Canada Revenue Agency (CRA) to estimate undeclared income by analyzing changes in a taxpayer’s assets and liabilities over time. These assessments often lead to reassessments, penalties, and interest - sometimes based on flawed or incomplete information.

At Advotax Law, we help individuals and businesses challenge unfair or inaccurate net worth assessments by:

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• Analyzing CRA’s calculations and underlying assumptions;

• Preparing detailed financial reconciliations and rebuttals;

• Asserting valid sources of non-taxable income (e.g., gifts, loans, inheritances);

• Negotiating reassessment reductions;

• Representing clients in objections and appeals before the Tax Court of Canada.
   

If you've received a net worth audit or assessment, early legal intervention is key. Our team will work with you to correct the record, protect your rights, and minimize potential tax exposure.

 

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