Case Study 1
Incentive Review Recovered $13,500 Across 4 Open Years — Short-Term Rental Operator, New Westminster
An incentive review at a short-term rental operator in New Westminster, British Columbia found BC Small Business Venture Capital Tax Credit eligibility that had never been assessed and recovered $13,500 across 4 open years.
An incentive review at a short-term rental operator in New Westminster, British Columbia started from a simple question: what has never been claimed? The answer ran to 4 years, driven by BC Small Business Venture Capital Tax Credit eligibility that had never been assessed. We recalculated the corporate tax at the 11% combined small business rate and rebased the instalments on the current year, documenting eligibility to the standard a reviewer would apply rather than the standard a claim form requires. The credits produced $13,500 across the open years, and the tracking now in place means the following year's claim is documented as the work happens rather than reconstructed afterwards.
Case Study 2
Intergenerational Transfer Completed With $260,000 Deferred — Dance Studio, New Westminster
A family transfer at a dance studio in New Westminster, British Columbia would have been fully taxable because of a shareholder loan balance that would have been picked up as income on closing. Restructuring deferred $260,000.
A generational transfer at a dance studio in New Westminster, British Columbia had been discussed for years without a plan. A shareholder loan balance that would have been picked up as income on closing meant the transfer as contemplated would have been fully taxable. We registered the provincial payroll account, caught up the outstanding remittances, and applied for relief on the penalty, sequencing the steps so each one was complete and documented before the next depended on it. $260,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Case Study 3
Collections Halted And $127,000 Cut From A 3-Year Backlog — Bar and Live-Music Venue, New Westminster
Collections had begun against a bar and live-music venue in New Westminster, British Columbia over 3 years of unfiled returns. Bringing them current cut $127,000 from the balance.
By the time a bar and live-music venue in New Westminster, British Columbia called, 3 years were outstanding and the CRA had assessed on estimates. Underneath it sat a provincial payroll levy that had never been registered for or remitted. We reconstructed the records year by year and assessed and claimed BC Small Business Venture Capital Tax Credit alongside the federal return. 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 $127,000, and a relief application addressed part of the accumulated interest.
Case Study 4
Holding Structure Added, $45,000 Saved Annually — Two-Location Bistro, New Westminster
A two-location bistro in New Westminster, British Columbia needed a holding structure to deal with sector-specific exposure the previous accountant had not seen before. The reorganisation was tax-neutral and removed $45,000 of annual exposure.
A two-location bistro in New Westminster, British Columbia was carrying sector-specific exposure the previous accountant had not seen before, and every option for fixing it ran through a reorganisation that had to be done without triggering tax. Working with the client's lawyer, we assessed and claimed BC Scientific Research and Experimental Development Tax Credit alongside the federal return and prepared the elections, resolutions and valuations the structure needed to stand up. The structure now matches the business. Annual saving of $45,000, and the reorganisation itself was tax-neutral.
Case Study 5
$94,000 Of Penalties And Interest Cancelled On Relief — IT Managed-Services Provider, New Westminster
An IT managed-services provider in New Westminster, British Columbia was carrying $94,000 of penalties and interest from instalments still calculated on a year the business had long outgrown. A relief application cancelled it.
An assessment of $94,000 landed at an IT managed-services provider in New Westminster, British Columbia following a desk review. The auditor had not seen the records behind instalments still calculated on a year the business had long outgrown. We separated the federal GST and BC provincial sales tax streams, reconciled both to the sales ledger, and filed the corrected provincial returns, then set out the legislative basis for the position alongside the documents supporting it. $94,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Case Study 6
6-Week Turnaround Beat The Deadline And Saved $20,000 — Land Development Company, New Westminster
A 6-week rebuild at a land development company in New Westminster, British Columbia got the filing in with 19 days to spare, avoiding $20,000 in penalties.
With the deadline for its bc tax and accounting file weeks away, a land development company in New Westminster, British Columbia was carrying provincial sales tax collected but never remitted on the separate BC return. The exposure if the date slipped was around $20,000. We recalculated the corporate tax at the 11% combined small business rate and rebased the instalments on the current year. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 19 days to spare. $20,000 in late-filing penalties avoided, and the working papers are ready for the following year.