Case Study 1
Intergenerational Transfer Completed With $670,000 Deferred — First-Year Startup, Barrie
A family transfer at a first-year startup in Barrie, Ontario would have been fully taxable because of no valuation on file to support the price the parties had agreed. Restructuring deferred $670,000.
A generational transfer at a first-year startup in Barrie, Ontario had been discussed for years without a plan. No valuation on file to support the price the parties had agreed meant the transfer as contemplated would have been fully taxable. We documented the positions taken, retained the supporting analysis, and prepared the file so a review could be answered in days rather than weeks, sequencing the steps so each one was complete and documented before the next depended on it. $670,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Case Study 2
Collections Halted And $47,000 Cut From A 4-Year Backlog — Owner-Managed Corporation, Calgary
Collections had begun against an owner-managed corporation in Calgary, Alberta over 4 years of unfiled returns. Bringing them current cut $47,000 from the balance.
By the time an owner-managed corporation in Calgary, Alberta called, 4 years were outstanding and the CRA had assessed on estimates. Underneath it sat positions taken on prior returns that nobody could explain or support. We reconstructed the records year by year and brought the outstanding filings current and negotiated an arrangement that stopped the interest from compounding further. Each filing replaced an arbitrary assessment with a real one. The account is current. Filing on real numbers rather than CRA estimates reduced the balance by $47,000, and a relief application addressed part of the accumulated interest.
Case Study 3
Corporate Structure Rebuilt For $58,000 Of Annual Savings — Incorporated Contractor, Winnipeg
The structure at an incorporated contractor in Winnipeg, Manitoba no longer fitted the business, and deadlines tracked in the owner’s head rather than on a compliance calendar showed it. Rebuilding it saves $58,000 a year.
The structure at an incorporated contractor in Winnipeg, Manitoba had been set up years earlier for a business that no longer existed, and deadlines tracked in the owner’s head rather than on a compliance calendar had become expensive. We rebuilt the supporting records, corrected the affected filings, and set a compliance calendar covering every deadline the business actually carries. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself. $58,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
Case Study 4
Desk-Review Assessment Of $44,000 Vacated — Professional Practice, London
A desk review assessed a professional practice in London, Ontario $44,000 over filings handled by three different providers with no continuity between them. Producing the records vacated it.
A professional practice in London, Ontario was carrying $44,000 of penalties and interest arising from filings handled by three different providers with no continuity between them, much of it accumulated during a period the CRA itself had delayed. We consolidated the work into a single engagement so the corporate, sales tax and payroll filings finally reconciled to each other and framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship. The assessment was vacated. $44,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
Case Study 5
Filed On Time From A Standing Start, $29,500 Penalty Avoided — Second-Generation Family Company, Red Deer
A second-generation family company in Red Deer, Alberta was 4 weeks from a deadline while carrying a balance that had been accruing daily compound interest for two years. Filing complete and on time avoided roughly $29,500 in penalties.
A second-generation family company in Red Deer, Alberta came to us 4 weeks before its filing deadline with a balance that had been accruing daily compound interest for two years. A late filing would have triggered a penalty of roughly $29,500 before interest. We worked backwards from the deadline. We documented the positions taken, retained the supporting analysis, and prepared the file so a review could be answered in days rather than weeks, prioritising the items that actually gated the filing and deferring everything that did not. The return was filed on time and complete. The $29,500 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Case Study 6
Month-End Close Cut From 5 Weeks To 9 Days — Multi-Location Operator, Kelowna
Closing the books at a multi-location operator in Kelowna, British Columbia took 5 weeks because of records that could not support the positions already taken on filed returns. It now takes 9 days.
The accounting file at a multi-location operator in Kelowna, British Columbia was built on records that could not support the positions already taken on filed returns. The year-end had taken 5 weeks each of the last three years. We brought the outstanding filings current and negotiated an arrangement that stopped the interest from compounding further and moved the reconciliations into the monthly cycle, so the year-end stopped being a rebuild. The file reconciles. Month-end closes in 9 days instead of 5 weeks, and the year-end is a review rather than a reconstruction.