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At Tax Filings Canada, we handle every part of your audit assistance and working-paper support, from the filing itself to the planning around it. Our accountants work with corporations and business owners every week, so you can focus on running and growing your business.
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Audit Assistance and Working-Paper Support from Tax Filings Canada gives lenders, boards and owner-managers compilation engagements under CSRS 4200, review engagements and audit support at a cheap fixed fee agreed before work begins — no hourly billing, no surprise invoices.
Hand over your documents once; we will tell you if anything is missing.
Preparation happens on our desk, not yours — including the audit assistance and working-paper support details that are easy to overlook.
A review meeting or call walks you through the draft before you give the go-ahead.
After sign-off, we file, arrange any balance owing, and close the loop with you.
| Factor | Tax Filings Canada | Typical Firm |
|---|---|---|
| Pricing model | Fixed, flat fee | Hourly / unpredictable |
| Payment | Pay after service | Upfront retainer |
| Price match | Yes, on written quotes | Rarely |
| CRA audit support | Included | Billed extra |
| Typical turnaround | 3-5 business days | 2-4 weeks |
CRA reviews are won on documentation: every figure filed should trace to a source document, and deadlines — 90 days for an objection — are unforgiving. A review engagement under CSRE 2400 delivers limited assurance at a fraction of audit cost — often exactly what a bank covenant requires. Our audit assistance and working-paper support engagement is priced as a cheap flat fee, so the cost is known before the work starts.
Most of what goes wrong with audit assistance and working-paper support goes wrong before anyone opens the software. As a tax preparation specialist, that is where these notes on Audit Assistance and Working-Paper Support begin.
The foundation is simple to state and easy to trip over: CSRS 4200 replaced the old Notice to Reader. Every compilation now carries a basis-of-accounting note, and it must state whether the statements are for a specific user with a specific purpose.
The next point is the one a tax preparation specialist checks before quoting any timeline: The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified. Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer. The third rule is where the real exposure hides. A CCPC files its T2 within six months of year-end, with the balance due two months after (three where the small business deduction is claimed). The 9% federal small business rate applies to the first $500,000 of active business income. The filing and payment deadlines differ, and interest runs from the payment date. Filing on time while paying late still costs money.
The practical upshot is simple: every one of these rules has a version that helps you and a version that costs you, and which one applies depends on choices made before filing. That is precisely the ground a tax preparation specialist covers. A productive audit assistance and working-paper support engagement starts with paperwork, and the list below covers what to gather.
Whatever the file involves, the terms do not change: fixed fee agreed up front, review together before filing, payment after the service.
Providing transparent fixed pricing and high-quality compliance work for your audit assistance and working-paper support requirements.
Coverage: Standard bookkeeping and audit assistance and working-paper support preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
Book NowCoverage: Strategic advisory and fractional CFO integration.
Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your audit assistance and working-paper support needs?
Providing tailored audit assistance and working-paper support services to ensure compliance and maximize deductions.
Our tax accountants keep your business compliant with federal and provincial tax rules.
A dedicated team that handles your financials quickly, accurately, and without upfront fees.
Dedicated preparation processes customized for Canadian businesses.
Advanced accounting software integrations with QuickBooks, Xero, and wave accounting.
Customized packages designed to grow as your business operations expand.
Our clear four-step workflow ensuring absolute tax optimization and complete CRA compliance.
Start with a free, no-obligation consultation to review your business’s financial, tax filing and compliance needs and outline our affordable solutions.
Receive a comprehensive checklist and securely provide the required financial records and documents.
Our tax accountant and accounting experts carefully prepare your filings, identify all applicable deductions and credits, and conduct thorough reviews.
We file your documents electronically with the Canada Revenue Agency (CRA) on time and provide post-filing support.
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See how our expert Audit Assistance and Working-Paper Support tax and accounting services have helped Canadian businesses save money and stay compliant.
A corporation entering a shareholder buyout in Lethbridge, Alberta had outgrown its structure. The visible cost was a shareholder agreement calling for audited statements that had been satisfied with a compilation for years. The reorganisation completed tax-deferred and saves $22,000 a year.
A corporation entering a shareholder buyout in Lethbridge, Alberta had outgrown the structure it started with. A shareholder agreement calling for audited statements that had been satisfied with a compilation for years was the immediate problem. The longer-term one was that the structure blocked the next step. We mapped the current structure and modelled the target. Then we described the revenue and inventory policies in the basis-of-accounting note in terms a lender could follow without asking a question. The tax-deferred elections were filed on time and the supporting valuations documented. The reorganisation completed without triggering tax, and the new structure saves approximately $22,000 a year while removing the exposure the old one carried.
Remittances at a business applying for government funding in Saskatoon, Saskatchewan were chronically late. It came down to an unusual revenue recognition policy that appeared nowhere in the basis-of-accounting note. Fixing the schedule refunded $99,000.
Remittances at a business applying for government funding in Saskatoon, Saskatchewan were consistently late by a few days. That was enough to trigger penalties every quarter. Behind it sat an unusual revenue recognition policy that appeared nowhere in the basis-of-accounting note. We upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions. Then we moved the remittance dates into a scheduled process rather than a monthly decision. Penalties stopped from the following remittance onwards, and $99,000 of overpaid instalments was refunded.
A contractor bidding on bonded work in Kelowna, British Columbia had never tested its work against the eligibility rules. The resulting $117,000 claim was accepted without adjustment.
A contractor bidding on bonded work in Kelowna, British Columbia assumed the credits did not apply to a business its size. A prior-year restatement with no note explaining what changed meant they had applied all along. We identified the qualifying activity and built the documentation to support it. Then we prepared a due-diligence-ready statement set with supporting schedules for each material balance. $117,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
A company refinancing its operating line in Surrey, British Columbia was carrying $114,000 of penalties and interest. The charges arose from a bank asking for a review engagement while the file only supported a compilation. A relief application cancelled that amount.
An assessment of $114,000 landed at a company refinancing its operating line in Surrey, British Columbia following a desk review. It turned on a bank asking for a review engagement while the file only supported a compilation. The auditor had not seen the records behind it. We separated the bookkeeping work from the assurance engagement so the independence question had one clear answer. We then set out the legislative basis for the position alongside the documents supporting it. $114,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
A second opinion for a corporation restating a prior year in Moncton, New Brunswick recovered $64,000 a year. It found statements delivered five months after year-end, past the covenant deadline in prior filings.
A corporation restating a prior year in Moncton, New Brunswick asked for a second opinion on audit assistance and working-paper support. That followed three years of rising tax. The review found statements delivered five months after year-end, past the covenant deadline. We built the comparison first: current structure against two alternatives. Then we converted the records to the accrual basis, restated the comparative year with proper disclosure, and rebuilt the statement package around the bonding company’s requirements. First-year saving of $64,000, with the same benefit recurring. Every position taken is documented and supported in the file.
A family transfer at a co-operative reporting to members in Winnipeg, Manitoba would have been fully taxable. The reason was passive assets sitting inside the operating company, disqualifying the shares. Restructuring deferred $410,000.
A generational transfer at a co-operative reporting to members in Winnipeg, Manitoba had been discussed for years without a plan. Passive assets sitting inside the operating company, disqualifying the shares meant the transfer as contemplated would have been fully taxable. We read the shareholder agreement and the loan documents and established what level of assurance each user actually required. We scoped the engagement to the highest of them. We sequenced the steps so each one was complete and documented before the next depended on it. $410,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Meet the specialists behind your Audit Assistance and Working-Paper Support filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
CA (ICAI), CA (MIA), CPA Canada (In-Depth Tax Program)
Canada Tax, International Tax, Cross Border Tax, Transfer Pricing
International Tax, Transfer Pricing Specialist
CA (ICAI), Canada Tax Expert
CA. Fractional CFO and Senior Advisory Specialist
Same fixed fees in every province. Find your city or your sector.
Direct answers to what Canadian business owners actually ask before hiring an accountant.
Audit Assistance and Working-Paper Support starts at a fixed fee quoted before any work begins. The quote is locked at the outset and does not change mid-engagement, and you pay only after you have reviewed and approved the deliverable. Compare every plan on our transparent pricing page.
At minimum: prior-year returns and notices of assessment, your bank and credit-card statements for the fiscal period, payroll records if you have employees, and GST/HST filings. We send a checklist tailored to your situation after the free 15-minute call.
Most engagements are completed within 3 to 5 business days once your documents are complete. Catch-up work covering multiple years takes longer, and we tell you the realistic timeline before you commit rather than after.
We respond on your behalf at no extra charge for any return we prepared. Every figure we file is supported by documentation retained in your file, which is what turns a CRA review from a crisis into correspondence. See how our CRA audit representation works.
Yes. Late filing penalties compound at 5% of the balance owing plus 1% per month, so the cost of waiting is real. We prioritise catch-up work and, where eligible, file under the CRA's Voluntary Disclosures Program to reduce penalties.
Yes. We serve clients in every province and territory at the same fixed fees, so your location does not change the price or the service. Browse our coverage across Canada to find your city.
We work across construction, healthcare, e-commerce, professional services, restaurants, real estate, transportation, technology and non-profits, each with its own deduction profile and CRA scrutiny patterns. See all industries we serve.
Software applies the rules you already know about. An experienced tax accountant finds the ones you do not: capital cost allowance timing, the small business deduction threshold, shareholder loan repayment rules, and TOSI exposure on family dividends. The fee is usually smaller than the deductions it surfaces.
Our audit assistance and working-paper support services include complete filing, compliance management, and strategic advice customized to Canadian tax laws.
You can start by booking a free 15-minute call. We will review your files, provide a fixed quote, and start working immediately.
The short answer comes straight from our working notes: A compilation cannot be used where a third party requires assurance. Supplying one where a review or audit was required is a common cause of a financing application stalling. How that plays out on your file depends on the specifics, which is exactly what the engagement is for.
In our files, this is the deciding factor: Comparative figures matter: a restated prior year needs disclosure of the restatement, and lenders read the comparatives as closely as the current year. An accountant applies it to your numbers before submission.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
There is no single rate. Federal personal income tax for 2026 runs through five brackets: 14%, then 20.5%, 26%, 29% and 33% on the highest band, and your province's brackets stack on top, so your combined marginal rate is the federal rate plus the provincial one. The 2026 federal basic personal amount is $16,452, tapering to $14,829 as net income rises from $181,440 to $258,482. Capital gains and Canadian dividends are taxed on a different basis.
Work out the tax you actually owe for the year, then compare it with what has already been paid. Total your income, subtract deductions to reach taxable income, apply the federal and provincial brackets, take off your credits, and set the result against the tax withheld on your T4 and other slips plus any instalments. If more was withheld than you owe, the difference is your refund. Tax software approved for NETFILE runs the same arithmetic once your slips are entered.
There is no single percentage. Your employer applies the federal withholding table plus the table for your province or territory, using pay frequency, your annual rate of pay and the amounts claimed on your federal and provincial TD1 forms, then adds CPP contributions and EI premiums until the annual maximums are met. Pension contributions, union dues and benefit premiums come off separately. The CRA's Payroll Deductions Online Calculator reproduces the exact figures shown on your stub.
Yes. Tips and gratuities are income and must be reported, whether they reach you through your employer or straight from the customer. Controlled tips your employer distributes appear on your T4 with payroll deductions already taken. Direct and cash tips usually appear on no slip at all, so you report them yourself on your T1 from your own records. Keep a daily log, because the CRA can estimate unreported tip income.
You can file a Canadian personal return at no cost using CRA-certified free tax software, which sends the return through NETFILE. Volunteer clinics run by community organisations also prepare simple returns free of charge for people with modest income. Paper filing costs only postage. Free software suits straightforward employment and pension income; self-employment, rental or foreign property usually needs a preparer. CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027.
Line 43700 is total income tax deducted, so you do not calculate it - you copy it. Add up the income tax withheld shown on every slip you received for the year: T4 employment slips, T4A, pension and benefit slips, T5 and other investment slips, and any tax withheld on a lump-sum payment. Enter the total, keep the slips, and check CRA My Account if one is missing.
For the 2025 tax year the balance was due 30 April 2026, including for self-employed filers whose return itself was not due until 15 June 2026. Interest runs on anything unpaid after that date and compounds daily, so the amount grows while you wait. If you cannot pay in full, contact the CRA to set up a payment arrangement; it does not stop interest, but it holds off collection action while you keep to it.
Your notice of assessment shows the final refund figure, and it appears in CRA My Account under the tax year, usually before the deposit lands. The refund calculated on your filed return is only an estimate until the CRA assesses it, and a review of a credit, or an amount you owe elsewhere, can change it. Register for direct deposit and the money arrives roughly two weeks after an online filing.
Divide income tax expense by profit before tax to get the effective rate. It differs from the statutory rate because of permanently non-deductible items, credits and timing differences between accounting and tax treatment. Income tax payable is a current liability and income tax receivable a current asset, so a refund is recorded against that receivable rather than as revenue. Internet is normally an operating expense under utilities or office costs, and property taxes are expensed unless properly capitalised to a project under construction.
Not automatically. Rates and brackets are the same whether you are single or coupled, so marriage on its own does not reduce the tax on your own income. A refund grows where one partner has little income and the other claims the spouse or common-law partner amount, where unused credits are transferred, or where eligible pension income is split. It can also shrink, because income-tested payments such as the GST/HST credit are based on family income.
Compare the tax withheld shown on your T4 slips with the tax your T1 return actually calculates. A large refund means too much was withheld; a balance owing means too little. Withholding follows the credit declaration your employer holds on file, so it can be wrong if you have two jobs, changed jobs mid-year, or never claimed credits such as tuition or support amounts. Filing the T1 settles the difference either way.
Taxable income is what remains after deductions. A personal return moves through stages: total income from all sources, then net income after deductions such as registered retirement savings plan contributions, child care costs and union dues, then taxable income after any further deductions. Tax is calculated on that taxable income using the federal and provincial brackets, and non-refundable credits are applied afterwards, which is why a credit and a deduction are not worth the same amount.
Reviewed and fact-checked by Udit Gupta
Ex Big 4 — Ernst & Young, Deloitte · International & cross-border tax specialist · CPA Canada (In-Depth Tax Program) · Chartered accountant, ICAI & MIA
Udit Gupta has over 15 years of experience helping corporations and business owners with corporate structuring, corporate tax filing, bookkeeping, payroll, GST/HST, cross-border tax and CRA representation. He is Big 4 trained, at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia. In 2014 he founded his accounting practice to serve entrepreneurs, startups and non-resident business owners across Canada. View full member bio.
The Institute of Chartered Accountants of India — member 521458 · Malaysian Institute of Accountants — member CA 44667 · Ex Big 4: Ernst & Young, Deloitte · CPA Canada (In-Depth Tax Program), completed 19 Dec 2023 · In-Depth GST/HST Part I, 12 Jul 2022 · Part II, 5 Jul 2023
Editorial policy. Every page is researched against primary sources — the Income Tax Act, CRA publications and CPA Canada guidance — and every rate or threshold is stated with the tax year it applies to.
Sources. CRA — Businesses · Income Tax Act (Justice Laws Website)
