In a saucepan over medium heat add oil and stir the beef until it is brown, about 5-6 minutes.
Sprinkle the spices: paprika, cayenne, garlic, onion powders and salt.
Stir the spices into the beef for a minute.
Tip in the cans of tomato sauce and diced tomatoes and stir.
Add water and with the lid on, cook the chilli on low heat for an hour.
After an hour, take the lid off and turn the heat to high (this will allow the chilli to get more flavor).
Stir the chilli for 10-15 minutes.
To serve, ladle chilli in a bowl, top with chopped onion, cheddar cheese, cilantro or any other toppings you prefer.