3 CRA Powers Coming in 2026 Will Ruin You

💡 The federal government is proposing three major new powers for the CRA — and they could fundamentally change how tax audits work in Canada.In this video, I break down the proposed legislation, why tax professionals and legal organizations are raising concerns, and what these changes could mean for taxpayers if they become law.In This Episode, We Cover:• The proposed power for CRA to put taxpayers under oath during an audit• The new $50-per-day non-compliance penalty that could be issued directly by auditors• How a single notice could remove the normal three-year audit protection window• Why tax professionals and legal groups are concerned about the scope of these powers• How the proposed rules could affect business owners, investors, and everyday taxpayers• What Canadians can do now while the legislation is still being debated💡 The legislation has been introduced, but it has not yet become law. Understanding the proposal now gives taxpayers an opportunity to stay informed and participate in the discussion before any changes take effect.ResourcesFor additional tax resources, guides, and episode breakdowns, visit:🌐 The Advisors Table: https://theadvisorstable.com📞 Looking for Trusted Tax Advice?Connect with Sankalp (Sunny) Jaggi at Cedar Consulting Group📧 Email: [email protected]🌐 Website: https://www.cedargroup.ca/🔔 Subscribe for practical breakdowns of CRA audits, tax planning, and real-world tax scenarios.👇 Comment below: Do you think these proposed powers are necessary to combat tax evasion, or do they go too far?LEGAL DISCLAIMER: This content is for educational purposes only and does not constitute legal or tax advice. Always consult a qualified tax professional before making financial decisions.00:00 – The CRA Is About to Get 3 New Powers00:14 – Why These Changes Matter to Every Taxpayer00:27 – Power #1: CRA Can Put You Under Oath During an Audit01:18 – The Biggest CRA Audit Shift in Years01:56 – Risks of Being Questioned Under Oath03:39 – Power #2: The New $50/Day Non-Compliance Penalty04:13 – How Auditors Could Issue Penalties Directly05:07 – Why Even Cooperative Taxpayers Could Face Issues06:55 – Power #3: Losing the Three-Year Audit Protection Window07:45 – How One Notice Can Expand an Audit08:50 – How These Powers Work Together09:38 – What Canadians Can Do Right Now#TheAdvisorsTable #CRA #CRAAudit #CanadianTax #TaxPlanning #BusinessOwners #TaxCompliance #TaxLaw #CRAUpdates #TaxStrategy