The auditor will usually want to review your operations and test a sample of transactions. A four-year period is open to audit, although the auditor may review only two years. If you have developed a new housing project during the audit period, the CRA will probably review the GST accounting for the project. When the audit is done, the auditor will give you a copy of the proposed assessment, and give you 30 days to respond with any further information you may have regarding the assessment. Additional time may be granted upon request.

When the audit is complete, a notice of assessment will be issued. Any tax owing, plus interest and penalty, is due and payable upon issuance. You have 60 days to appeal an assessment.

If you are being audited on a new housing project, or you are assessed on a new development, please advise the Manager, Finance, at BC Housing.

Refer to chapter five of the GST Guide for Social Housing Providers for more on CRA audits.

Back to the questions