6 First Corporate 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 first corporate tax return work, not a general example.
Case Study 1 · Sale and succession
Share Sale Restructured, $540,000 Less Tax On Closing — Technology CCPC Approaching Its, Brampton
Client: A technology CCPC approaching its first profitable year · Where: Brampton, Ontario · Engagement: 3 weeks, fixed fee
Tax saved on closing$540,000
PriceAs agreed
Post-closing adjustmentsNone
The situation
A technology CCPC approaching its first profitable year in Brampton, Ontario was preparing to sell. Due diligence surfaced retained cash well above what the business needed to operate, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year, and prepared the due-diligence package the buyer's advisers actually asked for.
The result
The deal closed at the agreed price. $540,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 2 · Missed incentive claimed
$12,000 In Credits Claimed That Prior Filings Had Missed — Import and Distribution Corporation, Ottawa
Client: An import and distribution corporation · Where: Ottawa, Ontario · Engagement: 8 weeks, fixed fee
Credits claimed$12,000
Years adjusted5
Review outcomeNo adjustment
The situation
An import and distribution corporation in Ottawa, Ontario had been filing for 5 years without ever claiming the incentives its activity qualified for. Behind that sat passive investment income that had crossed the $50,000 grind threshold unnoticed.
What we did
We tested each activity against the eligibility criteria rather than the description on the invoice, then moved passive holdings into a separate structure so the operating company’s small business limit stopped grinding down.
The result
$12,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
Case Study 3 · CRA review defended
Audit Defence Closed In 3 Weeks, $29,500 Cleared — Holding Company and Its, Kelowna
Client: A holding company and its operating subsidiary · Where: Kelowna, British Columbia · Engagement: 3 weeks, fixed fee
Proposed tax cleared$29,500
Review duration3 weeks
OutcomeNo change
The situation
A holding company and its operating subsidiary in Kelowna, British Columbia was selected for review after passive investment income that had crossed the $50,000 grind threshold unnoticed showed up in the CRA's automated matching. The proposed adjustment on first corporate tax return came to $29,500.
What we did
We mapped the association rules across the group, allocated the business limit deliberately on Schedule 23, and corrected the prior year by adjustment request. Every figure in the response traced to a source record the auditor could verify without asking a second question.
The result
The review closed with no change. $29,500 of proposed tax came off the table, and the documentation now in place makes the next review a short one.
Case Study 4 · Scaling without breaking
Scaled To 38 Staff With $141,000 Of Working Capital Freed — Second-Generation Family Manufacturer, Regina
Client: A second-generation family manufacturer · Where: Regina, Saskatchewan · Engagement: 7 weeks, fixed fee
Headcount reached38
Working capital freed$141,000
Missed deadlinesZero
The situation
A second-generation family manufacturer in Regina, Saskatchewan was growing fast — headcount to 38 in eighteen months — and the back office had not kept up. A small business limit quietly shared across three associated corporations nobody had mapped was the first thing to break.
What we did
We rebuilt the instalment schedule off the current year rather than the prior year, ending the interest accrual, and built the compliance calendar for the size the business was becoming rather than the size it had been.
The result
The business reached 38 staff with no missed remittance and no late filing. $141,000 of working capital was freed in the process.
Case Study 5 · Planning that cut the bill
$49,000 Saved By Correcting What Prior Filings Had Missed — Incorporated Consultancy, Winnipeg
An incorporated consultancy in Winnipeg, Manitoba asked for a second opinion on first corporate tax return after three years of rising tax. The review found retained earnings building in the operating company with no plan for extracting them.
What we did
We built the comparison first — current structure against two alternatives — and then modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year.
The result
First-year saving of $49,000, with the same benefit recurring. Every position taken is documented and supported in the file.
Client: An incorporated trades business · Where: Guelph, Ontario · Engagement: 11 weeks, fixed fee
Overpayment refunded$38,000
Late remittances sinceZero
ScheduleAutomated
The situation
Remittances at an incorporated trades business in Guelph, Ontario were consistently late by a few days, which was enough to trigger penalties every quarter. Behind it sat two corporations under common control filing as if each had its own $500,000 limit.
What we did
We moved passive holdings into a separate structure so the operating company’s small business limit stopped grinding down, then moved the remittance dates into a scheduled process rather than a monthly decision.
The result
Penalties stopped from the following remittance onwards, and $38,000 of overpaid instalments was refunded.
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.
