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At Tax Filings Canada, we handle every part of your capital gains exemption planning, 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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Stay compliant and optimize your financial processes with our specialized capital gains exemption planning services.
No hidden fees. Pay only after your service is completed. The fee is agreed before any work starts.
Tax Filings Canada provides cheap, fixed-fee capital gains exemption planning across Canada: the T2 return with full GIFI schedules and every provincial filing that applies, built for incorporated businesses and CCPCs, with payment only after your work is complete.
Send us your slips, statements, and supporting records in whatever format suits you.
We prepare the capital gains exemption planning work and flag anything that deserves a closer look.
You review the draft with us and ask questions before anything is finalized.
Once you approve, we file on your behalf and confirm it has gone through.
| 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 |
The 9% federal small business rate covers the first $500,000 of active business income, with each province layering its own rate on top. Our capital gains exemption planning engagement is priced as a cheap flat fee, so the cost is known before the work starts.
What follows is the working view of a tax preparation specialist who prepares capital gains exemption planning week in, week out — the points that decide real files.
There is no way around the opening fact, so it may as well come first. Planning has to be in place before the transaction. The salary-versus-dividend mix, the timing of a capital purchase and the choice of year-end all change the outcome, but only prospectively. Almost every planning opportunity we see missed was available and simply not taken in time; very few are recoverable after year-end.
A related rule tends to get overlooked precisely because the first one draws all the attention: Depreciable property is written off through capital cost allowance at a rate set by its class, and the half-year rule limits the first-year claim unless immediate expensing applies. Class selection is where the money is. The same asset placed in the wrong class can delay the deduction by years, and the error repeats every year until corrected. Calendars matter more than most people expect in capital gains exemption planning, and this is the rule that proves it: The late-filing penalty is 5% of the balance owing plus 1% for each full month late, to a maximum of twelve months. A second late filing within three years doubles both figures. The penalty is calculated on the balance owing, so a late return with nothing owing costs nothing — which is why filing on time matters even when you cannot pay.
In practice, this is why capital gains exemption planning rewards a tax preparation specialist rather than a generic preparer: each of these points is a judgement call before it is a keystroke. To keep the engagement efficient, assemble these records before we begin.
The fee is fixed and agreed before any work starts, you review every figure, and payment happens only after the work is done.
Providing transparent fixed pricing and high-quality compliance work for your capital gains exemption planning requirements.
Coverage: Standard bookkeeping and capital gains exemption planning 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 capital gains exemption planning needs?
Providing tailored capital gains exemption planning 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 Capital Gains Exemption Planning tax and accounting services have helped Canadian businesses save money and stay compliant.
A holding company and its operating subsidiary in Kelowna, British Columbia was scaling. The growth exposed two corporations under common control filing as if each had its own $500,000 limit. The back office was rebuilt to match, freeing $55,000.
A holding company and its operating subsidiary in Kelowna, British Columbia was opening in a second province. That meant different filing obligations and a different payroll regime. Two corporations under common control filing as if each had its own $500,000 limit already sat in the file. We modelled salary against dividends across both the corporation and the shareholder’s personal return, then set the remuneration mix for the year. We then put monthly reporting in place. That let the owner see the cash effect of growth while there was still time to act on it. Growth was absorbed without a compliance failure. $55,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
A remuneration review at a franchise operator with three locations in Victoria, British Columbia saved $46,000 across the corporate and personal returns. It found a balance-due date the owner believed was the same as the filing date.
Nothing was wrong at a franchise operator with three locations in Victoria, British Columbia. The filings were on time and accurate. What they were not was planned. A balance-due date the owner believed was the same as the filing date had never been reviewed. We reconstructed the capital dividend account from the underlying transactions and filed the subsection 83(2) election before the next distribution left the company. We ran the numbers across both the corporate and personal returns, so the saving was real rather than deferred into someone else's hands. $46,000 came off the combined corporate and personal tax bill, and the structure holds for future years without further work.
A technology CCPC approaching its first profitable year in Brampton, Ontario was profitable and permanently short of cash. Behind the gap sat passive investment income that had crossed the $50,000 grind threshold unnoticed. Restructuring the tax cycle freed $124,000.
A technology CCPC approaching its first profitable year in Brampton, Ontario was profitable on paper and short of cash every month. Passive investment income that had crossed the $50,000 grind threshold unnoticed explained most of the gap. We reviewed each capital cost allowance pool and set the claim at the level that kept the small business deduction fully used rather than wasted. We also built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars. $124,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
22 months of records at a corporation associated with a spouse-owned company in Halifax, Nova Scotia had never been reconciled. That left a small business limit quietly shared across three associated corporations nobody had mapped. Rebuilding recovered $13,500.
Nothing reconciled at a corporation associated with a spouse-owned company in Halifax, Nova Scotia. Every filing started with 22 months of cleanup. The file was carrying a small business limit quietly shared across three associated corporations nobody had mapped. We rebuilt from source rather than correcting on top of the existing file. We moved passive holdings into a separate structure so the operating company’s small business limit stopped grinding down. Then we set the routine that keeps it clean. 22 months reconciled to the bank. The close now takes 5 days, and $13,500 of previously unclaimable input tax was recovered in the process.
A corporation with a non-calendar fiscal year-end in Ottawa, Ontario had already been penalised. The issue was dividends moved up to a holding company year after year with no safe-income support on file. A relief application cancelled $87,000 of that penalty.
A corporation with a non-calendar fiscal year-end in Ottawa, Ontario had already missed one deadline and was about to miss a second. Behind it sat dividends moved up to a holding company year after year with no safe-income support on file. A penalty of $87,000 was accruing. We split the work into what had to happen before the deadline and what could follow it. Then we carried the non-capital loss back against the two profitable years and recovered tax already paid instead of holding a carry-forward balance. The outstanding return was accepted as filed, and the taxpayer relief application cancelled $87,000 of the penalty already assessed on the earlier year.
A professional corporation in Calgary, Alberta was carrying $139,000 of penalties and interest. The charges arose from a distribution treated as tax-free capital dividend with no election ever filed. A relief application cancelled that amount.
An assessment of $139,000 landed at a professional corporation in Calgary, Alberta following a desk review. It turned on a distribution treated as tax-free capital dividend with no election ever filed. The auditor had not seen the records behind it. We documented safe income before the inter-corporate dividend was paid, so subsection 55(2) had no room to recharacterise it as a gain. We then set out the legislative basis for the position alongside the documents supporting it. $139,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Meet the specialists behind your Capital Gains Exemption Planning 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.
Capital Gains Exemption Planning 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 capital gains exemption planning 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.
You are asking the right question, and it has a real answer. A CCPC’s T2 is due six months after year-end, but the balance owing is due two months after year-end. For many small CCPCs claiming the small business deduction, the balance is due three months after year-end. Filing on time does not stop interest running on an unpaid balance. What we add on top of that is the paperwork discipline that makes the answer stand up if anyone ever asks you to prove it.
Let us give you the substance first and the caveats second. The 9% federal small business rate applies to the first $500,000 of active business income. That limit is shared across associated corporations rather than available to each of them. The caveat is simply that facts on your file can shift the outcome, so treat this as the baseline rather than the final word.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
A T2 corporate return is due six months after the fiscal year end, whichever month that falls in. The balance owing comes earlier: two months after year end, or three months for an eligible Canadian-controlled private corporation claiming the small business deduction. Filing late costs 5% of the unpaid balance plus 1% per month for up to 12 months. For tax years beginning after 2023, electronic filing is mandatory for essentially all corporations whatever their gross revenue — the old $1 million threshold no longer applies — and paper-filing a return that had to be filed electronically carries a $1,000 penalty.
Pay through CRA My Business Account, your bank's online tax payment service, pre-authorised debit or a third-party payment provider, always quoting the business number and the tax year the money is for. For most provinces the CRA collects the provincial share along with the federal amount. Alberta and Quebec administer their own corporate income tax, so a corporation with a permanent establishment there files and pays that part separately to the provincial authority. Instalments use the same channels as the final balance.
For individuals the tax year is the calendar year, 1 January to 31 December, and the return covering it is filed the following spring. The 2025 return was due 30 April 2026, or 15 June 2026 where you or your spouse were self-employed, though any balance owing was still payable by 30 April 2026. Corporations work differently: a corporation chooses its own fiscal year end and files a T2 six months after it.
The CRA does not hand back a completed copy of your corporate return to download. Sign in to My Business Account to see assessed figures, notices of assessment, balances and account history for the corporation, which is usually what a lender or buyer wants. The return itself comes from whoever filed it: your tax software file or your preparer's records. The CRA will also release account information in writing when proper authorisation is on file.
If you filed online, the CRA usually issues a refund in about two weeks once the return is assessed. A non-resident return can take up to 16 weeks. Direct deposit lands faster than a cheque. Timing slips if the CRA reviews a claim and asks for receipts, or if you owe other federal or provincial debts, which are offset against the refund first. Track the status in My Account.
They can. Social assistance is reported on a T5007 slip and goes on the return, but it is generally offset so little or no tax is payable, and any tax withheld on other income comes back. The stronger reason to file is benefits: the GST/HST credit, the Canada child benefit and most provincial payments are recalculated from the filed return each year, so a missed return can stop them even when no tax is owed.
No. Revenue is income you have earned and belongs on the income statement, not among liabilities. Money taken before you deliver the goods or service is different: unearned or deferred revenue is a liability until you perform the work. Sales tax you collect is also a liability rather than revenue. Booking customer deposits straight to sales is a common error that overstates profit and distorts the figures on your GST/HST return.
Tax preparation fees are deductible when they relate to earning income. A self-employed person or a partner deducts the accounting fee on the business statement, Form T2125, and a rental owner deducts it on the rental statement, Form T776. A salaried employee with a straightforward T1 generally cannot claim it. Fees paid to prepare an objection or an appeal of an assessment are also deductible, and fees for investment advice may qualify as carrying charges.
Non-business income is income that does not come from actively carrying on a business: interest, dividends, rent, royalties and capital gains. The distinction matters most to corporations, because only active business income qualifies for the federal small business rate of 9% on the first $500,000 for 2026, while investment income is taxed at a higher corporate rate with part of it refunded when dividends are paid out. For individuals the label mainly affects which deductions apply.
Rent is normally property income rather than active business income, which matters because only active business income earns the small business deduction, at a federal 9% on the first $500,000 for 2026. Rental income becomes active business income when the corporation employs more than a set number of full-time employees in that rental business throughout the year, or where renting is incidental to a genuine operating business providing substantial services. Check the CRA's guidance for the employee test before relying on it.
The return can be corrected. An adjustment request, filed on Form T1-ADJ or through My Account, reopens the year for reassessment. You remain legally responsible for what was filed, so interest and any penalty are assessed to you. Relief on Form RC4288 is granted for extraordinary circumstances, CRA error or delay, or genuine inability to pay; the CRA's stated position is that it will generally not cancel interest or penalties because a preparer you hired made the mistake, so pay the balance while you pursue the preparer separately.
A special levy or special assessment from a condominium corporation is claimable only against rental income, and only for the part that funds repairs and maintenance rather than an improvement. A levy paying for a new roof, new windows or a rebuilt garage is capital: add it to the cost of the unit and claim capital cost allowance, or let it reduce a future capital gain. On a home you live in yourself, none of it is deductible.
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)
