Canadian Corporate Tax Services
Tax Compliance
Canada's complex and continuously changing tax laws present a significant tax compliance challenge to companies doing business in Canada. Your business could benefit from our knowledgeable advice on the vast spectrum of tax concerns. We provide you with valuable advice right from the incorporation of your company to filing the annual corporate income tax return. In doing so, we take the time to understand your business and ensure that your company’s income tax return has been prepared accurately and that your tax situation has been optimized to the fullest. We work to explain the tax laws, including the grey areas, to you. That way, you understand the tax issues that your company is facing. Our services cover all areas of Canadian income taxation and in most cases involve dealings in the following areas:
-Corporate Income Tax Return Preparation
-Appeals
-Voluntary Disclosures
-Taxpayer Relief Requests
-Transfer Pricing Compliance Assistance
-Dealings with the Tax Authorities
Irrespective of the size, industry or the complexity of your tax matters, we can help you in getting your corporate tax compliance in order.
Tax Planning & Advisory
There’s more to tax than simply complying with the rules and getting the numbers right. Whether you operate in Canada or around the world, you should understand how changes in Canadian tax laws may affect you and your company. We provide you with effective and timely tax planning advice that is tailored to your business. We help you understand the long-term impact of tax decisions. We take the time to discuss your business matters with you and outline the tax planning opportunities available to your business early on so that you can take advantage of these in a timely manner. In doing so, we take into account not only the relevant impact to your business but also to you as a shareholder.
With extensive understanding of tax matters and deep industry knowledge, we can provide you with a wide spectrum of tax advice including the following:
-Implementing Tax Optimal Structures
-Implementing Tax Loss Utilization Strategies
-Implementing Tax Optimal Compensation Strategies
-Planning and Execution of Tax Deferral Transactions
-Implementing Succession Planning Strategies
-Cross-border Tax Matters
Tax Accounting
Intense regulatory scrutiny and the introduction of extensive disclosure requirements have turned tax accounting into a hot button issue for many finance executives and have exposed significant problems within corporate tax departments. Canadian tax and accounting functions cannot afford to maintain the status quo. These developments make it more important than ever for companies to improve their tax accounting function, and integrate it into their overall finance function. Unfortunately, many companies lack the internal resources and expertise needed to meet the increasing requirements for accuracy and transparency surrounding the tax accounting aspects of their financial reporting. We can assist you with a wide range of tax accounting issues, including:
-Preparation of corporate income tax provision
-Review of quarterly and annual tax accounting calculations
-Improving documentation relating to the income tax aspects
We know that the effective management of your tax accounting function is vital to your organization's bottom-line, shareholder value and reputation. We can assist you in all aspects of your organization's tax accounting function, from the preparation or review of tax accounting calculations to the re-design of your tax accounting function.
Diagnostic Tax Review
We provide tax diagnostic tax review services which involve reviewing the past corporate income tax returns which may have been either prepared by our clients themselves or by their previous accountant. The purpose of the review is to ensure that the past corporate income tax returns reflect all the necessary deductions and that nothing was missed. Our fee for these services is typically a percentage of the additional tax refund that your business receives based on our review.
The benefit to you, as a client, of these diagnostic tax review services is that you only pay us if we get you the additional tax refund for those years. Plus, you get a free diagnosis of your previously filed tax returns. The benefit to us is that it helps us to show you our tax expertise and helps us in building a good relationship with you.
Canadian Personal Tax Services
We can help you reduce your personal tax bill by offering valuable advice and making sure that you claim all the available deductions. We help you retain adequate and appropriate documentation in order to help you defend your position in case of a tax audit. We also provide planning advice to you so that you can structure your affairs in a tax optimal manner. No matter how complex your tax situation is, most likely we have dealt with it earlier. So, if you are entangled in the complicated web of Canadian taxation and are facing a personal tax problem, don’t worry – bring it to us and we will gladly solve it for you.
International Corporate Tax Services
Undertaking business activities beyond borders can present significant challenges—all the more so when it comes to tax matters. Canadian companies or individuals conducting business outside Canada, and foreign companies with operations in Canada, are facing more regulatory scrutiny than ever before as tax decisions are more closely examined by government authorities who seek to protect their respective tax bases. We help you address these matters through the following service offerings:
Inbound to Canada Tax Services
“Inbound to Canada Tax Services” refers to the Canadian tax services that we offer to foreign-based corporations with existing or intended Canadian operations. Addressing the Canadian tax issues has to be on your agenda if you are looking to setup a business in Canada. We work with you in addressing these matters. In particular, we help you in setting up a business in Canada, optimizing the Canadian tax bill, developing strategies to repatriate Canadian earnings in a tax effective manner, complying with Canadian tax filings and other tax matters.
Outbound from Canada Tax Services
“Outbound from Canada Tax Services” refers to the Canadian tax services that we offer to Canadian companies with existing or intended foreign operations. If your Canadian business is involved in foreign markets, you are faced with not only the Canadian tax issues but also foreign tax issues. If you are a Canadian business that is looking to expand in foreign markets, you would need to consider the tax issues such as the legal form of operations, financing of such operations, repatriation of cash back to Canada to name a few. We work closely with you to optimize the Canadian and foreign taxes, develop tax-efficient strategies to repatriate cash to Canada, and comply with Canadian tax filings.
Scientific Research & Experimental Development (SR&ED) Tax Services
Through its tax incentive program for technological innovation, the federal government delivers more than $3 billion annually to companies doing Research & Development (R&D) in Canada. Strong federal and provincial tax incentives are available to R&D performers in Canada that make the after-tax cost of R&D cheaper here than almost anywhere else in the world. The R&D tax incentives can have a significant impact on your bottom line, as they can help you offset taxes payable. If your company undertakes product and process development activities, you may qualify for the R&D tax incentives.
We can help determine whether you are eligible to recover tax credits for the current year and prior years (subject to certain time limits) for activities your company has previously undertaken. As a result, you may be able to enhance tax credits to offset taxes payable and, in some cases, receive refundable cash incentives.
Indirect Tax Services
One way or another, most transactions involve indirect taxes. Since these transactions can include sales, purchases, imports/exports, and payroll, indirect taxes can affect more than cash flow—they can also represent a significant cost for your business. Indirect taxes include GST/HST, QST, provincial sales tax, and payroll taxes (e.g., CPP, EI, Ontario EHT, and WSIB), as well as US sales and transaction taxes, and value added taxes in the EU and other jurisdictions. Indirect taxes also include premium taxes and fuel taxes levied by the provincial and federal governments in Canada.
With the continually changing indirect tax landscape, we can help you understand the impact of these changes to your business and the underlying transactions. We can help you early on in the planning process so that you can avoid the pitfalls. As well, we can assist you in complying with the various filing requirements in respect of Canadian indirect taxes.
Preparation of Financial Statements
All businesses require accurate accounting records and documentation. These records and documentation form a vital platform upon which the various business decisions are based. These decisions relate to many important aspects of the business such as the future course, value creation process or tax matters of the business. As a result, accurate record keeping and bookkeeping are absolutely crucial. In addition to providing various tax driven services, we also provide accounting and bookkeeping services to our clients. We can help you in retaining sufficient and appropriate documentation and in creating accurate financial statements with meaningful notes and disclosures.
Audit Assistance
Whether faced with a requirement to prepare financial statements in accordance with a prescribed set of accounting principles or to present supporting documentation to the tax authorities in respect of your historical business transactions, we can assist you in the preparation of the required documentation and records. We take the time to understand the needs of our clients and other relevant parties and accordingly, assist our clients in the preparatory work required to assemble a set of records and documentation to be furnished to the relevant parties. As well, upon receiving directions from our clients, we sometimes deal with the tax authorities by preparing appropriate responses to the tax audit questions. We also assist our clients in preparing working papers for the purposes of their financial statements audit. Don’t worry if you have a unique requirement – we can tailor our approach in accommodating your needs.
Tax Compliance
Canada's complex and continuously changing tax laws present a significant tax compliance challenge to companies doing business in Canada. Your business could benefit from our knowledgeable advice on the vast spectrum of tax concerns. We provide you with valuable advice right from the incorporation of your company to filing the annual corporate income tax return. In doing so, we take the time to understand your business and ensure that your company’s income tax return has been prepared accurately and that your tax situation has been optimized to the fullest. We work to explain the tax laws, including the grey areas, to you. That way, you understand the tax issues that your company is facing. Our services cover all areas of Canadian income taxation and in most cases involve dealings in the following areas:
-Corporate Income Tax Return Preparation
-Appeals
-Voluntary Disclosures
-Taxpayer Relief Requests
-Transfer Pricing Compliance Assistance
-Dealings with the Tax Authorities
Irrespective of the size, industry or the complexity of your tax matters, we can help you in getting your corporate tax compliance in order.
Tax Planning & Advisory
There’s more to tax than simply complying with the rules and getting the numbers right. Whether you operate in Canada or around the world, you should understand how changes in Canadian tax laws may affect you and your company. We provide you with effective and timely tax planning advice that is tailored to your business. We help you understand the long-term impact of tax decisions. We take the time to discuss your business matters with you and outline the tax planning opportunities available to your business early on so that you can take advantage of these in a timely manner. In doing so, we take into account not only the relevant impact to your business but also to you as a shareholder.
With extensive understanding of tax matters and deep industry knowledge, we can provide you with a wide spectrum of tax advice including the following:
-Implementing Tax Optimal Structures
-Implementing Tax Loss Utilization Strategies
-Implementing Tax Optimal Compensation Strategies
-Planning and Execution of Tax Deferral Transactions
-Implementing Succession Planning Strategies
-Cross-border Tax Matters
Tax Accounting
Intense regulatory scrutiny and the introduction of extensive disclosure requirements have turned tax accounting into a hot button issue for many finance executives and have exposed significant problems within corporate tax departments. Canadian tax and accounting functions cannot afford to maintain the status quo. These developments make it more important than ever for companies to improve their tax accounting function, and integrate it into their overall finance function. Unfortunately, many companies lack the internal resources and expertise needed to meet the increasing requirements for accuracy and transparency surrounding the tax accounting aspects of their financial reporting. We can assist you with a wide range of tax accounting issues, including:
-Preparation of corporate income tax provision
-Review of quarterly and annual tax accounting calculations
-Improving documentation relating to the income tax aspects
We know that the effective management of your tax accounting function is vital to your organization's bottom-line, shareholder value and reputation. We can assist you in all aspects of your organization's tax accounting function, from the preparation or review of tax accounting calculations to the re-design of your tax accounting function.
Diagnostic Tax Review
We provide tax diagnostic tax review services which involve reviewing the past corporate income tax returns which may have been either prepared by our clients themselves or by their previous accountant. The purpose of the review is to ensure that the past corporate income tax returns reflect all the necessary deductions and that nothing was missed. Our fee for these services is typically a percentage of the additional tax refund that your business receives based on our review.
The benefit to you, as a client, of these diagnostic tax review services is that you only pay us if we get you the additional tax refund for those years. Plus, you get a free diagnosis of your previously filed tax returns. The benefit to us is that it helps us to show you our tax expertise and helps us in building a good relationship with you.
Canadian Personal Tax Services
We can help you reduce your personal tax bill by offering valuable advice and making sure that you claim all the available deductions. We help you retain adequate and appropriate documentation in order to help you defend your position in case of a tax audit. We also provide planning advice to you so that you can structure your affairs in a tax optimal manner. No matter how complex your tax situation is, most likely we have dealt with it earlier. So, if you are entangled in the complicated web of Canadian taxation and are facing a personal tax problem, don’t worry – bring it to us and we will gladly solve it for you.
International Corporate Tax Services
Undertaking business activities beyond borders can present significant challenges—all the more so when it comes to tax matters. Canadian companies or individuals conducting business outside Canada, and foreign companies with operations in Canada, are facing more regulatory scrutiny than ever before as tax decisions are more closely examined by government authorities who seek to protect their respective tax bases. We help you address these matters through the following service offerings:
Inbound to Canada Tax Services
“Inbound to Canada Tax Services” refers to the Canadian tax services that we offer to foreign-based corporations with existing or intended Canadian operations. Addressing the Canadian tax issues has to be on your agenda if you are looking to setup a business in Canada. We work with you in addressing these matters. In particular, we help you in setting up a business in Canada, optimizing the Canadian tax bill, developing strategies to repatriate Canadian earnings in a tax effective manner, complying with Canadian tax filings and other tax matters.
Outbound from Canada Tax Services
“Outbound from Canada Tax Services” refers to the Canadian tax services that we offer to Canadian companies with existing or intended foreign operations. If your Canadian business is involved in foreign markets, you are faced with not only the Canadian tax issues but also foreign tax issues. If you are a Canadian business that is looking to expand in foreign markets, you would need to consider the tax issues such as the legal form of operations, financing of such operations, repatriation of cash back to Canada to name a few. We work closely with you to optimize the Canadian and foreign taxes, develop tax-efficient strategies to repatriate cash to Canada, and comply with Canadian tax filings.
Scientific Research & Experimental Development (SR&ED) Tax Services
Through its tax incentive program for technological innovation, the federal government delivers more than $3 billion annually to companies doing Research & Development (R&D) in Canada. Strong federal and provincial tax incentives are available to R&D performers in Canada that make the after-tax cost of R&D cheaper here than almost anywhere else in the world. The R&D tax incentives can have a significant impact on your bottom line, as they can help you offset taxes payable. If your company undertakes product and process development activities, you may qualify for the R&D tax incentives.
We can help determine whether you are eligible to recover tax credits for the current year and prior years (subject to certain time limits) for activities your company has previously undertaken. As a result, you may be able to enhance tax credits to offset taxes payable and, in some cases, receive refundable cash incentives.
Indirect Tax Services
One way or another, most transactions involve indirect taxes. Since these transactions can include sales, purchases, imports/exports, and payroll, indirect taxes can affect more than cash flow—they can also represent a significant cost for your business. Indirect taxes include GST/HST, QST, provincial sales tax, and payroll taxes (e.g., CPP, EI, Ontario EHT, and WSIB), as well as US sales and transaction taxes, and value added taxes in the EU and other jurisdictions. Indirect taxes also include premium taxes and fuel taxes levied by the provincial and federal governments in Canada.
With the continually changing indirect tax landscape, we can help you understand the impact of these changes to your business and the underlying transactions. We can help you early on in the planning process so that you can avoid the pitfalls. As well, we can assist you in complying with the various filing requirements in respect of Canadian indirect taxes.
Preparation of Financial Statements
All businesses require accurate accounting records and documentation. These records and documentation form a vital platform upon which the various business decisions are based. These decisions relate to many important aspects of the business such as the future course, value creation process or tax matters of the business. As a result, accurate record keeping and bookkeeping are absolutely crucial. In addition to providing various tax driven services, we also provide accounting and bookkeeping services to our clients. We can help you in retaining sufficient and appropriate documentation and in creating accurate financial statements with meaningful notes and disclosures.
Audit Assistance
Whether faced with a requirement to prepare financial statements in accordance with a prescribed set of accounting principles or to present supporting documentation to the tax authorities in respect of your historical business transactions, we can assist you in the preparation of the required documentation and records. We take the time to understand the needs of our clients and other relevant parties and accordingly, assist our clients in the preparatory work required to assemble a set of records and documentation to be furnished to the relevant parties. As well, upon receiving directions from our clients, we sometimes deal with the tax authorities by preparing appropriate responses to the tax audit questions. We also assist our clients in preparing working papers for the purposes of their financial statements audit. Don’t worry if you have a unique requirement – we can tailor our approach in accommodating your needs.