6 Principal Residence Sale Reporting 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 principal residence sale reporting work, not a general example.
Case Study 1 · Scaling without breaking
Scaled To 74 Staff With $150,000 Of Working Capital Freed — Physician in Their First, Saskatoon
Client: A physician in their first year of practice · Where: Saskatoon, Saskatchewan · Engagement: 11 weeks, fixed fee
Headcount reached74
Working capital freed$150,000
Missed deadlinesZero
The situation
A physician in their first year of practice in Saskatoon, Saskatchewan was growing fast — headcount to 74 in eighteen months — and the back office had not kept up. Foreign accounts that had crossed the T1135 threshold two years earlier was the first thing to break.
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, and built the compliance calendar for the size the business was becoming rather than the size it had been.
The result
The business reached 74 staff with no missed remittance and no late filing. $150,000 of working capital was freed in the process.
Case Study 2 · Records and systems rebuilt
25 Months Reconciled And $7,800 Of Input Tax Recovered — Self-Employed Consultant, Kelowna
Client: A self-employed consultant · Where: Kelowna, British Columbia · Engagement: 5 weeks, fixed fee
Months reconciled25
Input tax recovered$7,800
Close time9 days
The situation
A self-employed consultant in Kelowna, British Columbia was carrying three years of returns filed without the slips that had been mailed to an old address. Nothing reconciled, and every filing started with 25 months of cleanup.
What we did
We rebuilt from source rather than correcting on top of the existing file. We carried the capital loss back against gains reported in the prior three years and generated a refund rather than a carry-forward balance, then set the routine that keeps it clean.
The result
25 months reconciled to the bank. The close now takes 9 days, and $7,800 of previously unclaimable input tax was recovered in the process.
Case Study 3 · Structure rebuilt
Corporate Structure Rebuilt For $64,000 Of Annual Savings — Commissioned Salesperson, Surrey
Client: A commissioned salesperson · Where: Surrey, British Columbia · Engagement: 9 weeks, fixed fee
Saving per year$64,000
DocumentationComplete
Transfer basisRollover
The situation
The structure at a commissioned salesperson in Surrey, British Columbia had been set up years earlier for a business that no longer existed, and medical expenses claimed on a calendar-year basis when a shifted window was worth far more had become expensive.
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. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself.
The result
$64,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
Case Study 4 · Missed incentive claimed
$81,000 In Credits Claimed That Prior Filings Had Missed — Retiree Drawing From Three, Moncton
Client: A retiree drawing from three sources · Where: Moncton, New Brunswick · Engagement: 8 weeks, fixed fee
Credits claimed$81,000
Years adjusted7
Review outcomeNo adjustment
The situation
A retiree drawing from three sources in Moncton, New Brunswick had been filing for 7 years without ever claiming the incentives its activity qualified for. Behind that sat medical expenses claimed on a calendar-year basis when a shifted window was worth far more.
What we did
We tested each activity against the eligibility criteria rather than the description on the invoice, then filed the outstanding T1135 disclosures under the voluntary disclosure route before the CRA raised them.
The result
$81,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
Case Study 5 · Planning that cut the bill
$66,000 Saved By Correcting What Prior Filings Had Missed — Employee with Foreign Investment, Winnipeg
Client: An employee with foreign investment accounts · Where: Winnipeg, Manitoba · Engagement: 7 weeks, fixed fee
Saving identified$66,000
RecurringYes
Positions documentedAll
The situation
An employee with foreign investment accounts in Winnipeg, Manitoba asked for a second opinion on principal residence sale reporting after three years of rising tax. The review found RRSP room accumulated over eight years and never used in a high-income year.
What we did
We built the comparison first — current structure against two alternatives — and then pulled the full slip history from the CRA record, refiled the affected years by adjustment request, and recovered the credits that had been missed.
The result
First-year saving of $66,000, with the same benefit recurring. Every position taken is documented and supported in the file.
Case Study 6 · Deadline rescue
Filed On Time From A Standing Start, $53,000 Penalty Avoided — Taxpayer with US-Source Dividends, Victoria
Client: A taxpayer with US-source dividends · Where: Victoria, British Columbia · Engagement: 7 weeks, fixed fee
Penalty avoided$53,000
Turnaround7 weeks
FiledOn time
The situation
A taxpayer with US-source dividends in Victoria, British Columbia came to us 7 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 $53,000 before interest.
What we did
We worked backwards from the deadline. We carried the capital loss back against gains reported in the prior three years and generated a refund rather than a carry-forward balance, 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 $53,000 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
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.
