6 Digital Asset Accounting 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 digital asset accounting work, not a general example.
Case Study 1 · Objection and relief
$21,000 Of Penalties And Interest Cancelled On Relief — Medical Device Developer, Brampton
Client: A medical device developer · Where: Brampton, Ontario · Engagement: 5 weeks, fixed fee
Penalties and interest cancelled$21,000
Relief groundsAccepted
AssessmentAdjusted to filed position
The situation
An assessment of $21,000 landed at a medical device developer in Brampton, Ontario following a desk review. The auditor had not seen the records behind a SR&ED claim prepared eleven months after the fact with no contemporaneous records.
What we did
We layered the applicable provincial credit onto the federal claim in the same filing, then set out the legislative basis for the position alongside the documents supporting it.
The result
$21,000 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 · Planning that cut the bill
$59,000 Saved By Correcting What Prior Filings Had Missed — Agri-Tech Company, Halifax
Client: An agri-tech company · Where: Halifax, Nova Scotia · Engagement: 10 weeks, fixed fee
Saving identified$59,000
RecurringYes
Positions documentedAll
The situation
An agri-tech company in Halifax, Nova Scotia asked for a second opinion on digital asset accounting after three years of rising tax. The review found eligible development work never claimed because nobody thought it counted as research.
What we did
We built the comparison first — current structure against two alternatives — and then put contemporaneous tracking in place — project logs tied to time records — so the following year’s claim was defensible by construction.
The result
First-year saving of $59,000, with the same benefit recurring. Every position taken is documented and supported in the file.
Case Study 3 · Sale and succession
Share Sale Restructured, $375,000 Less Tax On Closing — Industrial Automation Integrator, Ottawa
An industrial automation integrator in Ottawa, Ontario was preparing to sell. Due diligence surfaced no valuation on file to support the price the parties had agreed, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, identified the eligible projects, documented the technological uncertainty and systematic investigation for each, and filed a claim that survived review without adjustment, and prepared the due-diligence package the buyer's advisers actually asked for.
The result
The deal closed at the agreed price. $375,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 4 · Deadline rescue
11-Week Turnaround Beat The Deadline And Saved $128,000 — Manufacturer Developing a Production, Calgary
Client: A manufacturer developing a production process · Where: Calgary, Alberta · Engagement: 11 weeks, fixed fee
Late-filing penalty avoided$128,000
Filed with21 days to spare
Next yearPapers ready
The situation
With the deadline for digital asset accounting weeks away, a manufacturer developing a production process in Calgary, Alberta was carrying a provincial credit left unclaimed alongside a successful federal SR&ED claim. The exposure if the date slipped was around $128,000.
What we did
We confirmed CCPC status and refiled at the enhanced 35% refundable rate. The filing went in complete rather than provisional, so there was no amended return to follow.
The result
Filed with 21 days to spare. $128,000 in late-filing penalties avoided, and the working papers are ready for the following year.
Case Study 5 · Scaling without breaking
Growth Handled Without A Missed Filing, $137,000 Freed — Engineering Firm Solving a, Kelowna
Client: An engineering firm solving a technical uncertainty · Where: Kelowna, British Columbia · Engagement: 10 weeks, fixed fee
Cash freed$137,000
Compliance failuresNone
ReportingMonthly
The situation
An engineering firm solving a technical uncertainty in Kelowna, British Columbia was opening in a second province — different filing obligations, a different payroll regime, and a claim filed at the 15% non-refundable rate when CCPC status supported 35% refundable already in the file.
What we did
We layered the applicable provincial credit onto the federal claim in the same filing and put monthly reporting in place so the owner could see the cash effect of growth while there was still time to act on it.
The result
Growth was absorbed without a compliance failure. $137,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 6 · Backlog brought current
Collections Halted And $66,000 Cut From A 5-Year Backlog — Game Studio Claiming Digital, Victoria
Client: A game studio claiming digital media credits · Where: Victoria, British Columbia · Engagement: 4 weeks, fixed fee
Balance reduced by$66,000
Backlog cleared5 years
CollectionsHalted
The situation
By the time a game studio claiming digital media credits in Victoria, British Columbia called, 5 years were outstanding and the CRA had assessed on estimates. Underneath it sat a SR&ED claim prepared eleven months after the fact with no contemporaneous records.
What we did
We reconstructed the records year by year and put contemporaneous tracking in place — project logs tied to time records — so the following year’s claim was defensible by construction. 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 $66,000, and a relief application addressed part of the accumulated interest.
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.
