6 Late 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 late corporate tax return work, not a general example.
Case Study 1 · Records and systems rebuilt
Books Rebuilt From Source, $20,000 In Unclaimed Input Tax Found — Incorporated Consultancy, Victoria
Client: An incorporated consultancy · Where: Victoria, British Columbia · Engagement: 10 weeks, fixed fee
Unclaimed tax found$20,000
Records rebuilt25 months
ProcessDocumented
The situation
An incorporated consultancy in Victoria, British Columbia could not answer basic questions about its own numbers, because passive investment income that had crossed the $50,000 grind threshold unnoticed sat between the bank statements and the ledger.
What we did
We modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year, then documented the process so the work does not depend on any one person remembering how it was done.
The result
Records rebuilt and reconciled, $20,000 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 2 · CRA review defended
$85,000 Reassessment Reduced To Nil On Review — Franchise Operator with Three, Saskatoon
Client: A franchise operator with three locations · Where: Saskatoon, Saskatchewan · Engagement: 3 weeks, fixed fee
Reassessment reduced toNil
Tax protected$85,000
Prior filingsUndisturbed
The situation
A review notice arrived at a franchise operator with three locations in Saskatoon, Saskatchewan covering late corporate tax return for two tax years. The auditor's working position was an adjustment of $85,000, driven by a small business limit quietly shared across three associated corporations nobody had mapped.
What we did
Rather than negotiate, we rebuilt the record. We rebuilt the instalment schedule off the current year rather than the prior year, ending the interest accrual 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 $85,000 and leaving the prior filings undisturbed.
Client: A second-generation family manufacturer · Where: Mississauga, Ontario · Engagement: 4 weeks, fixed fee
Annual saving$42,000
ReorganisationTax-neutral
StructureMatches operations
The situation
A second-generation family manufacturer in Mississauga, Ontario was carrying retained earnings building in the operating company with no plan for extracting them, 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 moved passive holdings into a separate structure so the operating company’s small business limit stopped grinding down and prepared the elections, resolutions and valuations the structure needed to stand up.
The result
The structure now matches the business. Annual saving of $42,000, and the reorganisation itself was tax-neutral.
Case Study 4 · Cash and remittance control
$76,000 Of Working Capital Freed From The Tax Cycle — Professional Corporation, Barrie
Client: A professional corporation · Where: Barrie, Ontario · Engagement: 9 weeks, fixed fee
Working capital freed$76,000
On-time remittancesEvery period since
Forecast horizon13 weeks
The situation
A professional corporation in Barrie, Ontario was profitable on paper and short of cash every month. Two corporations under common control filing as if each had its own $500,000 limit explained most of the gap.
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 and built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars.
The result
$76,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
Case Study 5 · Missed incentive claimed
Incentive Review Recovered $136,000 Across 3 Open Years — Holding Company and Its, Brampton
Client: A holding company and its operating subsidiary · Where: Brampton, Ontario · Engagement: 5 weeks, fixed fee
Recovered$136,000
Open years claimed3
Ongoing trackingIn place
The situation
An incentive review at a holding company and its operating subsidiary in Brampton, Ontario started from a simple question: what has never been claimed? The answer ran to 3 years, driven by passive investment income that had crossed the $50,000 grind threshold unnoticed.
What we did
We modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year, documenting eligibility to the standard a reviewer would apply rather than the standard a claim form requires.
The result
The credits produced $136,000 across the open years, and the tracking now in place means the following year's claim is documented as the work happens rather than reconstructed afterwards.
Case Study 6 · Objection and relief
Desk-Review Assessment Of $28,000 Vacated — CCPC with Two Shareholders, Winnipeg
Client: A CCPC with two shareholders · Where: Winnipeg, Manitoba · Engagement: 4 weeks, fixed fee
Assessment vacated$28,000
Supporting recordsNow on file
AccountCleared
The situation
A CCPC with two shareholders in Winnipeg, Manitoba was carrying $28,000 of penalties and interest arising from passive investment income that had crossed the $50,000 grind threshold unnoticed, much of it accumulated during a period the CRA itself had delayed.
What we did
We rebuilt the instalment schedule off the current year rather than the prior year, ending the interest accrual and framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship.
The result
The assessment was vacated. $28,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
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.
