If you have been selected to be audited, the CRA will need access to several things. They may include:

General tax information such as your filed tax returns, credit history and/or property details (all properties you own, whether it be a house, cottage, investment property, etc.);

Any business records you may possess such as ledgers, journals, invoices, receipts, rental records and/or bank statements;

Any personal information of yours such as your marital status and personal information regarding your spouse if it applies, family members’ personal information (address, relation to you, employment history, etc.), partnerships you may be a part of, and any trusts that you may have created or be named under.

An auditor is entitled, by law, to ask about and obtain information regarding any of the above to conduct a fair and accurate assessment. When an auditor completes their assessment, they will conclude that; 1) your assessment is correct, and nothing further has to happen; or 2) your assessment needs to be reassessed, in which you will receive a letter and have 30 days to either agree or disagree with the auditor’s assessment.