5 BULLET FRIDAYS - Tax Mechanic News, Tips & Strategies

Welcome to Tax Mechanic Insights! 📬

🌟 Overview

Welcome to your definitive newsletter for transforming tax troubles into triumphs. 💼 Whether you're managing personal or corporate taxes, our seasoned experts are here to guide you every step of the way. 🧑‍💼 Today's edition is brought to you by Tax Mechanic – your trusted partner in navigating the complexities of the Canadian tax system. 🛠️💡📊

💼 Tax Trouble? Here’s How to Take Control
Before CRA Does


📍 Source: Government of Canada | CRA Debt Options

If you’ve received a notice from the Canada Revenue Agency (CRA), the clock has started. But here’s the good news: the CRA has official channels to help you manage and resolve your tax debt — if you act fast and strategically.

🔍 What You Can Do Right Now

💡 CRA Support Options

What It Means

Flexible payment plans

Spread your payments over time — tailored to your financial situation

Refile CRA-assessed returns

Replace arbitrary CRA filings with real, accurate returns

Modify current payment agreements

If your situation has changed, CRA may renegotiate terms

Verify CRA communications

Use Canada.ca tools to confirm calls and correspondence authenticity

CRA collects for multiple agencies

Includes EI, CPP, OAS, CEBA, and student loan overpayments

🚨 What Not to Do: Ignore It

Failing to respond doesn’t erase your debt — it escalates it. CRA can:

  • Garnish your income or bank accounts

  • Withhold benefits, credits, and refunds

  • Issue aggressive collections and legal actions

  • Lock you out of critical tax relief programs

🔑 The Smart Move

Engage proactively. File or refile your tax returns from 2014–2024. Once your personal taxes are current, you unlock access to manage any related business accounts — and regain control.

👉 Need help cutting through the red tape?
At Tax Mechanic, we help Canadians navigate CRA disputes, file back taxes, and negotiate smarter payment terms — with discretion, urgency, and proven strategies.

🎧 When "That'll Never Work" Becomes a Billion-Dollar Bet

Episode 710 | My First Million 

What do Shopify, Uber, and AI have in common?
They were dismissed — until they redefined industries.

In this episode, Parr and Puri break down how to assess risk, spot asymmetric upside, and avoid the costly mistake of short-sighted thinking.

🔍 Strategic Takeaways

💡 Topic

🧠 Insight

Bessemer’s miss on Shopify

Even elite VCs get it wrong — bet on upside

Shaan’s Anti-Portfolio

Track what you pass on — learn from your misses

Rule: Avoid Ruin

Protect the downside, let winners run

Outlier Founders

Eccentric ≠ risky — sometimes it’s a leading indicator

On AI:

"You can’t overinvest in it"

💬 Thought to Remember

“One outlier pays for a hundred misses.”

Smart business is about seeing value before it’s obvious.
At Tax Mechanic, we help entrepreneurs structure around bold bets — with tax foresight and strategic clarity.

48-Hour Funding Power: Unlock Up to $100,000 with
Zero Red Tape

In today’s economy, liquidity is leverage.
Whether you're navigating an unexpected cost or seizing a once-in-a-lifetime opportunity, rapid access to capital isn’t a luxury — it’s a necessity.

That’s why Next Level Mortgage offers streamlined private funding solutions, delivering up to $100,000 (or more, case-by-case) — with approvals and deposits finalized in just 48 hours.

💸 Why Clients Choose Fast Cash Solutions

📍 Financial Need

💼 Use Case Example

Purchase Deposits

Secure real estate before losing your window

Home Renovations

Fund urgent or value-adding upgrades

Business Operating Costs

Keep your business agile with liquid working capital

Tax Payments or Debt Consolidation

Avoid penalties or merge obligations into one payment

Emergency Expenses

Tackle unexpected bills without financial disruption

💼 Flexible, Discreet & Fast — Just How Private Lending Should Be

No invasive credit checks.
No piles of paperwork.
No waiting weeks for a banker’s decision.

Whether you're navigating around a locked-in mortgage or sidestepping bank bureaucracy, our funding strategy puts your urgency first — with no CRA or credit bureau reporting unless you choose to disclose it.

 Your Next Steps — In Just 3 Moves

  1. Consult: Quick call to assess your needs

  2. Approve: Fast-track eligibility within hours

  3. Fund: Receive your money within 2 business days

📲 Ready to move fast on what matters most?
📩Contact Genelle George today and let’s turn your cash flow crunch into a confident next move.

🧾 Bookkeeper Busted: Nearly $1M in GST/HST Fraud Uncovered in Surrey

📅 Published: May 16, 2025 | 📍 Source: Canada Revenue Agency

When trust breaks down in the books, the taxman steps in.

Aeddy Leung of Surrey, BC, has been sentenced after pleading guilty to a large-scale tax fraud operation that saw nearly $1 million in GST/HST evaded over a five-year span. As the financial steward of two airport hotels, Leung manipulated filings and skipped required GST/HST submissions — resulting in a net tax loss of $987,863.

This wasn’t sloppy bookkeeping. It was strategic deception — and it landed Leung a conditional sentence just short of two years behind bars, plus probation.

🧠 What You Need to Know

🚨 Case Highlights

📌 Implications for Businesses

$987K+ GST/HST evaded over 5 years

CRA is actively auditing hospitality and service sectors

False filings for two major hotels

Bookkeepers are now under CRA’s high-risk watchlist

Coordinated investigation with FINTRAC

Financial institutions are flagging unusual tax behaviour

Conditional sentence + 2 years probation

Criminal penalties are on the rise for willful tax evasion

🔍 Why This Matters

This isn’t just about one case — it’s a reminder of the CRA’s sharpened focus on fraudulent GST/HST reporting. As part of its mission to maintain fairness and fund social services, the CRA has intensified enforcement in sectors vulnerable to hidden revenues and misstatements.

“Most Canadians do their part. But when someone tries to game the system, the consequences are steep — both legally and reputationally.”

🔐 Bottom Line:
If you think CRA enforcement is rare — think again. With FINTRAC and other partners feeding data into CRA investigations, every dollar unreported is a potential red flag.

📞 Need a forensic review of your GST/HST filings?
Tax Mechanic offers discreet, expert analysis to ensure you're clean, compliant, and protected from exposure.

🚫 3 Habits That Quietly Kill Small Businesses

By Fraser Simpson, CEO of Tax Mechanic | May 2025

Even the most driven founders make moves that stall growth. Here are 3 silent killers — and how to beat them:

❗ 1. Hiring for IQ, Ignoring EQ

Talent is teachable. Emotional intelligence isn’t. Build a team that communicates, adapts, and leads.

❗ 2. Doing Everything Yourself

Delegating isn’t weakness — it’s strategy. Focus on what only you can do.

❗ 3. Chasing Sales, Ignoring Brand

Revenue is temporary. Brand is exponential. Build trust, not just transactions.

@taxmechanic

Are you accidentally killing your small business? 😬 Hiring for IQ instead of EQ? Intelligence is cheap—emotional intelligence is what buil... See more

🔧 Business Shift Snapshot

🔻 Common Mistake

Smart Move

IQ over EQ hires

Prioritize emotional intelligence

Wearing every hat

Delegate with intent

Sales-first mindset

Lead with brand and values

💡 Tax Tip:
Make sure your tax plan is integrated with your business plan. It’s not just about filing — it’s about scaling smart.

📞 Let’s build your business the right way, from brand to balance sheet.

📞 Ready to future-proof your business?
🌟💼 (Email - [email protected])

🔧 Why Tax Mechanic? 🔧 

Exclusive Access: Get a dedicated technician and manager.

Expertise on Tap: Fraser Simpson with 35+ years dealing with CRA.

AI Agents: Cutting-edge support.

Community & Strategies: Join a network of tax strategies and shelters.

Focused Attention: Personalized service just for you.

And that's a wrap for this Friday, folks. Have a safe and fun-filled weekend! 🌟🎉