6 Cryptocurrency Tax Return 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 cryptocurrency tax return work, not a general example.
Case Study 1 · Deadline rescue
Filed On Time From A Standing Start, $20,500 Penalty Avoided — Recently Separated Taxpayer, Brampton
A recently separated taxpayer in Brampton, Ontario came to us 11 weeks before its filing deadline with foreign accounts that had crossed the T1135 threshold two years earlier. A late filing would have triggered a penalty of roughly $20,500 before interest.
What we did
We worked backwards from the deadline. We filed the outstanding T1135 disclosures under the voluntary disclosure route before the CRA raised them, prioritising the items that actually gated the filing and deferring everything that did not.
The result
The return was filed on time and complete. The $20,500 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Case Study 2 · Structure rebuilt
Reorganisation Completed Tax-Deferred, $32,000 Saved Each Year — Physician in Their First, Surrey
Client: A physician in their first year of practice · Where: Surrey, British Columbia · Engagement: 4 weeks, fixed fee
Annual saving$32,000
Tax on reorganisationDeferred
Elections filedOn time
The situation
A physician in their first year of practice in Surrey, British Columbia had outgrown the structure it started with. RRSP room accumulated over eight years and never used in a high-income year was the immediate problem; the longer-term one was that the structure blocked the next step.
What we did
We mapped the current structure, modelled the target, and reset the medical expense claim window, transferred credits between spouses, and applied the tuition and disability amounts to the return that used them — with the tax-deferred elections filed on time and the supporting valuations documented.
The result
The reorganisation completed without triggering tax, and the new structure saves approximately $32,000 a year while removing the exposure the old one carried.
Case Study 3 · Objection and relief
$57,000 Of Penalties And Interest Cancelled On Relief — Retiree Drawing From Three, Mississauga
Client: A retiree drawing from three sources · Where: Mississauga, Ontario · Engagement: 9 weeks, fixed fee
Penalties and interest cancelled$57,000
Relief groundsAccepted
AssessmentAdjusted to filed position
The situation
An assessment of $57,000 landed at a retiree drawing from three sources in Mississauga, Ontario following a desk review. The auditor had not seen the records behind a rental property reported without any capital cost allowance analysis.
What we did
We pulled the full slip history from the CRA record, refiled the affected years by adjustment request, and recovered the credits that had been missed, then set out the legislative basis for the position alongside the documents supporting it.
The result
$57,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Case Study 4 · Backlog brought current
Collections Halted And $33,500 Cut From A 6-Year Backlog — Taxpayer with US-Source Dividends, Guelph
Client: A taxpayer with US-source dividends · Where: Guelph, Ontario · Engagement: 6 weeks, fixed fee
Balance reduced by$33,500
Backlog cleared6 years
CollectionsHalted
The situation
By the time a taxpayer with US-source dividends in Guelph, Ontario called, 6 years were outstanding and the CRA had assessed on estimates. Underneath it sat medical expenses claimed on a calendar-year basis when a shifted window was worth far more.
What we did
We reconstructed the records year by year and carried the capital loss back against gains reported in the prior three years and generated a refund rather than a carry-forward balance. 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 $33,500, and a relief application addressed part of the accumulated interest.
Case Study 5 · Missed incentive claimed
$38,500 Credit Claim Filed And Accepted Without Adjustment — First-Time Home Buyer, Victoria
Client: A first-time home buyer · Where: Victoria, British Columbia · Engagement: 4 weeks, fixed fee
Claim value$38,500
AcceptedWithout adjustment
RepeatableAnnually
The situation
A first-time home buyer in Victoria, British Columbia assumed the credits did not apply to a business its size. Foreign accounts that had crossed the T1135 threshold two years earlier meant they had applied all along.
What we did
We identified the qualifying activity, built the documentation to support it, and filed the outstanding T1135 disclosures under the voluntary disclosure route before the CRA raised them.
The result
$38,500 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
Case Study 6 · Scaling without breaking
Second-Province Expansion Handled, $125,000 Of Cash Released — Self-Employed Consultant, Burnaby
Client: A self-employed consultant · Where: Burnaby, British Columbia · Engagement: 6 weeks, fixed fee
Cash released$125,000
New registrationsComplete on day one
Compliance gapsNone
The situation
Revenue at a self-employed consultant in Burnaby, British Columbia was up sharply and cash was tighter than ever. Underneath it sat foreign accounts that had crossed the T1135 threshold two years earlier.
What we did
We reset the medical expense claim window, transferred credits between spouses, and applied the tuition and disability amounts to the return that used them. Every new obligation — registration, remittance frequency, provincial filing — was set up before it was triggered, not after.
The result
$125,000 of cash was released from the working capital cycle, and the expansion completed with every registration and filing obligation covered from day one.
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.
