Audits of IT Contractors
The CRA conducted an audit project between September 2009 and October 2010 and looked at the Personal Services Business (PSB) issue across all industries and across the country. The results of the project are as follows:
- 234 small businesses were audited nationally
- 96 were found to be PSB’s
- Of the 96, 44 were in the IT section
- All of the 96 were reassessed relating to the Small Business Deduction and expenses
Representatives from the NACCB met with the Canada Revenue Agency on December 1, 2010 to discuss the recent audits of IT contractors and to provide information on common business models within the IT Services sector. For more information on how the NACCB is representing its members on this important issue, please visit the members only area.