Net Worth Assessments
The CCRA sometimes uses an auditing technique called a net worth assessment to detect unreported income. Basically, this involves determining the increase in a person's net worth over a period of time, and then examining the person's sources of income and expenses to determine whether the income that is reported can reasonably account for the change in net worth. The CCRA is making increased use this auditing technique, and assessments can sometimes be made in error.
When asked to undertake a defence of a client who is subject to a net worth assessment, we
We normally undertake this work only on a full retainer basis.