Case Study 1
$740,000 Sheltered By The Lifetime Capital Gains Exemption — Furniture Manufacturer, Montreal
A furniture manufacturer in Montreal, Quebec was preparing to sell, but no valuation on file to support the price the parties had agreed disqualified the shares. Purification sheltered $740,000 under the exemption.
A furniture manufacturer in Montreal, Quebec had an offer on the table and 14 months to close. The shares did not qualify for the capital gains exemption, and no valuation on file to support the price the parties had agreed was part of the reason. We purified the corporation so the shares met the qualifying tests, then recalculated the corporate tax at the 12.2% combined small business rate and rebased the instalments on the current year well ahead of the closing date. The sale closed on schedule with $740,000 sheltered by the lifetime capital gains exemption across the shareholders.
Case Study 2
4 Years Filed, $69,000 Removed From The Assessed Balance — Hardware Startup, Montreal
4 years of returns were outstanding at a hardware startup in Montreal, Quebec, on top of input tax credits claimed against QC provincial tax, which is not recoverable the way GST is. Filing on real numbers removed $69,000 of assessed tax.
A hardware startup in Montreal, Quebec had not filed for 4 years. The CRA had issued arbitrary assessments, and the business was carrying input tax credits claimed against QC provincial tax, which is not recoverable the way GST is on top of a growing interest balance. We started with the oldest year and worked forward so each year's closing balances fed the next. We registered the provincial payroll account, caught up the outstanding remittances, and applied for relief on the penalty, filing the years in sequence rather than all at once. Every year is now filed and assessed on actual figures. The notional assessments were vacated and $69,000 of the estimated balance came off, with a payment arrangement covering the rest.
Case Study 3
Reorganisation Completed Tax-Deferred, $54,000 Saved Each Year — Solar Installation Company, Montreal
A solar installation company in Montreal, Quebec had outgrown its structure, with a provincial payroll levy that had never been registered for or remitted the visible cost. The reorganisation completed tax-deferred and saves $54,000 a year.
A solar installation company in Montreal, Quebec had outgrown the structure it started with. A provincial payroll levy that had never been registered for or remitted was the immediate problem; the longer-term one was that the structure blocked the next step. We mapped the current structure, modelled the target, and assessed and claimed Quebec R&D Salary Tax Credit alongside the federal return — with the tax-deferred elections filed on time and the supporting valuations documented. The reorganisation completed without triggering tax, and the new structure saves approximately $54,000 a year while removing the exposure the old one carried.
Case Study 4
Notice Of Objection Allowed In Full, $138,000 Reversed — Millwork Shop, Montreal
A $138,000 reassessment landed at a millwork shop in Montreal, Quebec, resting on sector-specific exposure the previous accountant had not seen before. The objection was allowed in full.
A millwork shop in Montreal, Quebec had been reassessed for $138,000 and had 8 days left on the objection deadline. The reassessment rested on sector-specific exposure the previous accountant had not seen before. We filed the objection inside the deadline with a complete submission rather than a placeholder, and assessed and claimed Quebec E-Business Tax Credit (CDAE) alongside the federal return. The appeals officer allowed the objection in full. $138,000 was reversed and the account returned to a nil balance.
Case Study 5
6-Week Turnaround Beat The Deadline And Saved $100,000 — Fintech Startup, Montreal
A 6-week rebuild at a fintech startup in Montreal, Quebec got the filing in with 12 days to spare, avoiding $100,000 in penalties.
With the deadline for its qc tax and accounting file weeks away, a fintech startup in Montreal, Quebec was carrying instalments still calculated on a year the business had long outgrown. The exposure if the date slipped was around $100,000. We separated the federal GST and QC provincial sales tax streams, reconciled both to the sales ledger, and filed the corrected provincial returns. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 12 days to spare. $100,000 in late-filing penalties avoided, and the working papers are ready for the following year.
Case Study 6
Month-End Close Cut From 6 Weeks To 6 Days — Maple and Specialty Crop, Montreal
Closing the books at a maple and specialty crop producer in Montreal, Quebec took 6 weeks because of provincial sales tax collected but never remitted on the separate QC return. It now takes 6 days.
The accounting file at a maple and specialty crop producer in Montreal, Quebec was built on provincial sales tax collected but never remitted on the separate QC return. The year-end had taken 6 weeks each of the last three years. We recalculated the corporate tax at the 12.2% combined small business rate and rebased the instalments on the current year and moved the reconciliations into the monthly cycle, so the year-end stopped being a rebuild. The file reconciles. Month-end closes in 6 days instead of 6 weeks, and the year-end is a review rather than a reconstruction.