6 Import & Export Businesses tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to import & export businesses work, not a general example.
Case Study 1 · Objection and relief
$43,000 Of Penalties And Interest Cancelled On Relief — Millwork Shop, Halifax
Client: A millwork shop · Where: Halifax, Nova Scotia · Engagement: 8 weeks, fixed fee
Penalties and interest cancelled$43,000
Relief groundsAccepted
AssessmentAdjusted to filed position
The situation
An assessment of $43,000 landed at a millwork shop in Halifax, Nova Scotia following a desk review. The auditor had not seen the records behind equipment and asset classes assigned by guesswork rather than the CCA schedule.
What we did
We reassigned the asset classes on the CCA schedule and corrected the opening balances, then set out the legislative basis for the position alongside the documents supporting it.
The result
$43,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Case Study 2 · Structure rebuilt
Holding Structure Added, $17,000 Saved Annually — Furniture Manufacturer, Regina
A furniture manufacturer in Regina, Saskatchewan was carrying seasonal revenue reported without matching the costs that produced it, and every option for fixing it ran through a reorganisation that had to be done without triggering tax.
What we did
Working with the client's lawyer, we aligned the reporting calendar with the sector’s own seasonal cycle rather than a generic year-end and prepared the elections, resolutions and valuations the structure needed to stand up.
The result
The structure now matches the business. Annual saving of $17,000, and the reorganisation itself was tax-neutral.
Case Study 3 · Backlog brought current
Collections Halted And $44,000 Cut From A 5-Year Backlog — Food Processing Plant, Moncton
Client: A food processing plant · Where: Moncton, New Brunswick · Engagement: 4 weeks, fixed fee
Balance reduced by$44,000
Backlog cleared5 years
CollectionsHalted
The situation
By the time a food processing plant in Moncton, New Brunswick called, 5 years were outstanding and the CRA had assessed on estimates. Underneath it sat sector deductions claimed on a general-business basis rather than the import & export businesses rules.
What we did
We reconstructed the records year by year and documented the positions to the standard the CRA applies to this sector specifically. Each filing replaced an arbitrary assessment with a real one.
The result
The account is current. Filing on real numbers rather than CRA estimates reduced the balance by $44,000, and a relief application addressed part of the accumulated interest.
Case Study 4 · Sale and succession
Intergenerational Transfer Completed With $700,000 Deferred — Specialty Chemicals Producer, Toronto
A generational transfer at a specialty chemicals producer in Toronto, Ontario 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.
What we did
We reviewed every sector-specific deduction against the current rules and claimed the ones that had been missed, sequencing the steps so each one was complete and documented before the next depended on it.
The result
$700,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Case Study 5 · Missed incentive claimed
$63,000 In Credits Claimed That Prior Filings Had Missed — Packaging Producer, Ottawa
A packaging producer in Ottawa, Ontario had been filing for 3 years without ever claiming the incentives its activity qualified for. Behind that sat provincial credits left unclaimed alongside every federal filing.
What we did
We tested each activity against the eligibility criteria rather than the description on the invoice, then rebuilt the chart of accounts around how a import & export businesses business actually earns and spends.
The result
$63,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
Case Study 6 · CRA review defended
$115,000 Reassessment Reduced To Nil On Review — Plastics Moulder, Saskatoon
A review notice arrived at a plastics moulder in Saskatoon, Saskatchewan covering import & export businesses accounting and tax for two tax years. The auditor's working position was an adjustment of $115,000, driven by a previous accountant with no experience of this sector.
What we did
Rather than negotiate, we rebuilt the record. We reassigned the asset classes on the CCA schedule and corrected the opening balances and submitted a point-by-point response that answered each proposed adjustment with the document behind it.
The result
The auditor accepted the documented position and closed the review without adjustment, protecting $115,000 and leaving the prior filings undisturbed.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
