Blog http://www.melaniegesy.ca/ en-us Mon, 19 Aug 2019 00:00:00 MSTimages/header.jpghttp://www.melaniegesy.ca/ Job Scams to Watch For http://www.melaniegesy.ca/Blog.asp?id=54 Mon, 19 Aug 2019 00:00:00 MST

 

Unfortunately in the world we live in, anything can be a scam - even a job!  

If a job sounds too good to be true - it probably is!

Here are a couple common job scams that have been recently targeting Canadians. 

Car Wrapping Scam

Individuals receive a text message stating that they can make hundreds of dollars a week by just featuring a company's logo on their vehicle or bike. These individuals will receive a link to an email that gives them instructions, a contract and a cheque. After they deposit the cheque they are then told to withdraw money to then be put into a specific account to pay the graphics company. Soon after they will learn that the cheque is actually counterfeit and that they are actually responsible for the funds that they have withdrawn. 

 

Mystery Shopper

This type of scam includes individuals receiving a notice in the mail that they have been handpicked for an exciting job position, such as a Mystery Shopper. They receive a cheque along with instructions. They must deposit the money into a specific account then make small purchases such as buying gift cards, these gift card numbers are then given back to the scammers. A customer service survey is completed after each step to make the victims believe that the fake job is real. The victim will shortly learn that the cheque is counterfeit meaning that they now owe the bank all the money back. 

 

Immigration Scams

Scammers often create fake job postings under the name of real companies targeting people wanting to move and work in Canada. The applications for these fake jobs require the applicants to fill out personal information ultimately leading to identity fraud. The victim will be contacted by the fraudsters claiming to be with Immigration Canada, this scammer will then precede to help the victim with the immigration process. The victim will then be asked to provide money to pay for their travel expenses like their passport, leaving the victim with no job, their identity stolen, and missing a large amount of money.  

 

Work from Home Scams

Fraudsters target their victims by using job websites and email campaigns, individuals then answer the ad leading to them receiving an offer to become a personal assistant, data entry clerk, ect. The victims will then be hired as payment processors, meaning that they will process payments for this fake businesses clients. Once they receive money from clients they will then send the money to the fraudsters through Bitcoin or another financial institution. 

 

Make sure to never reply to odd emails, especially ones that don't have business email addresses. If you receive a strange cheque or funds deposited into your account, please call your bank. 

 

Melanie Gesy Professional Corp. is here to help! Call 780-995-5236 today.

 

 

Sources Used:

http://www.antifraudcentre-centreantifraude.ca/fraud-escroquerie/job-emploi-eng.htm

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Are You Selling Your Real Estate? http://www.melaniegesy.ca/Blog.asp?id=53 Wed, 10 Jul 2019 00:00:00 MST

So you're selling your property - the CRA is watching

When selling your home or any other real estate you must correctly report the transaction. If you go without doing so it could lead to audits, back taxes, high interest, and let's face it a large headache.

 

It's common knowledge that when you sell real estate you must report the sale on your tax return even if you are exempt from being taxed because of the principal residence exemption. The principal residence exemption is an income tax benefit that provides you an exemption from tax on the capital gain you receive when selling your principal residence.

In 2018 the CRA (Canada Revenue Agency) released updated results of their audits in the real estate sector. These audits lead to over $1 billion in additional taxes since 2015. The CRA released that there was a 65% increase in the last two years with penalties doubling to over $57 million.  With that being said the CRA have decided to take steps to not let this behavior in the real estate sector continue. Areas in Canada with consistently high numbers of real estate transactions such as the Greater Toronto Area and the Lower Mainland in British Columbia are regularly being monitored for tax compliance.

From April 2015 to March 2019 results of audit activities found that there was a total of 34,214 files completed with $604.5 million in audit assessments, in British Columbia there was 7,400 files completed with $422.6 million in audit assessments. 

 

Audits

The CRA takes the following factors into consideration when deciding if a sold property was reported correctly.  

  • How long did you own the property?
  • What type of property was sold?
  • What was the reason for selling the property?
  • Did you do any work on the property?
  • Have you sold similar properties?
  • What is your intention when buying the property?

 

Property Flipping

People often purchase homes with the intentions to resell the home after they quickly flip/renovate. The CRA reported that they have analyzed data that shows some house flips have not being reported correctly and in some cases not reported at all. All profits from flipping homes are taxable.  

 

Correcting a Previous Return

If you have accidentally made a mistake or left out paperwork or important details on your tax return you are able to request an adjustment. Under certain circumstances you may qualify for the Voluntary Disclosure Program, if you do qualify the CRA can give you a second chance to correct your mistakes.

 

Melanie Gesy Professional Corp. is here to help!

Call 780-995-5236 today.

 

 

 

Sources Used:

https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/compliance/does-canada-revenue-agency-address-non-compliance-real-estate-sector.html

https://www.advisor.ca/columnists_/wilmot-george/selling-real-estate-the-cra-is-watching/

 

 

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