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At Tax Filings Canada, we handle every part of your grant audit and grant reporting, 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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Need grant audit and grant reporting in Canada? Tax Filings Canada delivers compilation engagements under CSRS 4200, review engagements and audit support for lenders, boards and owner-managers — economical fixed fees quoted up front, and you pay only after you approve the work.
Upload, email, or drop off your paperwork — whichever you prefer.
Behind the scenes, we assemble and double-check your grant audit and grant reporting filing.
Nothing is filed until you have seen it, understood it, and approved it.
We take care of the submission and send you confirmation for your records.
| 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. CSRS 4200 replaced the old Notice to Reader; every compilation now carries a basis-of-accounting note that lenders actually read. Our grant audit and grant reporting engagement is priced as a economical flat fee, so the cost is known before the work starts.
Before you hand grant audit and grant reporting to anyone, it is worth knowing what the work actually turns on.
The starting point is not a strategy but a constraint: 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.
That rule rarely travels alone; alongside it sits another: 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. Then there is the matter of timing, which forgives very little: A review engagement under CSRE 2400 provides limited assurance at a fraction of audit cost. That is frequently exactly what a bank covenant requires, and often more than it requires.
You do not need to hold all of this in your head. You need someone who does — and a tax practitioner handling grant audit and grant reporting week after week keeps these rules current so you do not have to. Before the first meeting, it helps to pull together the records that let a tax advisor see your situation whole.
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 grant audit and grant reporting requirements.
Coverage: Standard bookkeeping and grant audit and grant reporting 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 grant audit and grant reporting needs?
Providing tailored grant audit and grant reporting 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 Grant Audit and Grant Reporting tax and accounting services have helped Canadian businesses save money and stay compliant.
A 6-week rebuild at a not-for-profit with a bylaw audit requirement in Edmonton, Alberta got the filing in with 23 days to spare. That avoided $122,000 in penalties.
A not-for-profit with a bylaw audit requirement in Edmonton, Alberta was weeks away from the deadline for grant audit and grant reporting. Behind that sat a bonding limit capped because the last statements were prepared on a cash basis. The exposure if the date slipped was around $122,000. We compressed the close to 45 days by moving reconciliations into the monthly cycle, so the covenant deadline stopped being a scramble. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 23 days to spare. $122,000 in late-filing penalties avoided, and the working papers are ready for the following year.
The CRA had assessed a co-operative reporting to members in Windsor, Ontario on estimates across 3 unfiled years. Real filings vacated $66,000 of that tax.
3 years of unfiled returns had turned into notional assessments at a co-operative reporting to members in Windsor, Ontario. Underneath lay a prior-year restatement with no note explaining what changed. Collections had already started. We described the revenue and inventory policies in the basis-of-accounting note in terms a lender could follow without asking a question. We then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly. All 3 years were accepted as filed. $66,000 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 3 years.
A company refinancing its operating line in Surrey, British Columbia faced a $120,000 proposed reassessment. It came after a buyer’s due-diligence list that the existing statement package could not answer. We rebuilt the documentation and the adjustment was withdrawn in full.
A company refinancing its operating line in Surrey, British Columbia received a proposal letter opening a review of grant audit and grant reporting. The CRA had identified a buyer’s due-diligence list that the existing statement package could not answer. It proposed an adjustment of $120,000, with 30 days to respond. We treated the response as an evidence exercise rather than an argument. We upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions. We then indexed every supporting document against the specific line the auditor had questioned. The proposed adjustment was withdrawn in full — all $120,000 of it. The file closed in 11 weeks with no change to the assessed amounts and no penalty.
A business applying for government funding in Guelph, Ontario was profitable and permanently short of cash. Behind the gap sat a shareholder agreement calling for audited statements that had been satisfied with a compilation for years. Restructuring the tax cycle freed $34,500.
A business applying for government funding in Guelph, Ontario was profitable on paper and short of cash every month. A shareholder agreement calling for audited statements that had been satisfied with a compilation for years explained most of the gap. We prepared a due-diligence-ready statement set with supporting schedules for each material balance. We also built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars. $34,500 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
A business whose statements arrive late every year in Burnaby, British Columbia was carrying $21,000 of penalties and interest. The charges arose from an unusual revenue recognition policy that appeared nowhere in the basis-of-accounting note. A relief application cancelled that amount.
An assessment of $21,000 landed at a business whose statements arrive late every year in Burnaby, British Columbia following a desk review. It turned on an unusual revenue recognition policy that appeared nowhere in the basis-of-accounting note. 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. $21,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
A family transfer at a corporation with an outside minority shareholder in Vancouver, British Columbia would have been fully taxable. The reason was a minute book with no resolutions behind a decade of dividends. Restructuring deferred $280,000.
A generational transfer at a corporation with an outside minority shareholder in Vancouver, British Columbia had been discussed for years without a plan. A minute book with no resolutions behind a decade of dividends meant the transfer as contemplated would have been fully taxable. 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. We sequenced the steps so each one was complete and documented before the next depended on it. $280,000 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 Grant Audit and Grant Reporting 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
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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.
Grant Audit and Grant Reporting 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 grant audit and grant reporting 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.
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. That is the part most owners have not heard before they sit down with us, and it usually changes what they do next.
We get this one a lot, and the answer is more concrete than people expect. Under CSRS 4200 the practitioner has to consider whether the compiled information is misleading and cannot issue it where it is. An unusual revenue or inventory policy has to be described plainly in the basis-of-accounting note rather than left for the reader to infer. Bring your documents and we will show you where it lands in your numbers.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
For the 2025 tax year the filing and payment deadline is 30 April 2026. If you or your spouse were self-employed, the filing deadline moves to 15 June 2026, but any balance owing is still due 30 April 2026. Interest starts the day after the payment deadline, and a late-filing penalty applies on top when a return with a balance owing is filed late. File on time even with nothing owing, because income-tested benefits are recalculated from the filed return.
File a T1 return for the year, sending it electronically with CRA-certified software or mailing a paper return. Gather your slips and receipts first and check them against the ones listed in My Account. For the 2025 tax year the filing and payment deadline was 30 April 2026, or 15 June 2026 to file if you or your spouse were self-employed, with payment still due 30 April 2026. CRA online filing for 2025 returns closes 29 January 2027.
A tax deduction is an amount subtracted from your income before tax is worked out, so it reduces the income being taxed rather than the tax bill directly. Its worth depends on your marginal rate: the higher the rate, the more the deduction saves. Common examples are RRSP contributions, child care costs, union dues, moving expenses and business expenses. Credits work the other way, reducing the tax calculated on that income.
CRA online filing for 2025 returns opened on 23 February 2026 and stays open until 29 January 2027. You can prepare a return before the service opens, but it cannot be transmitted, and slips such as T4s and T5s often arrive only in late February. Filing early makes sense if you expect a refund. If you expect a balance owing, you can still file early and pay by 30 April 2026.
Most enquiries are settled without a phone call in My Account, My Business Account or Represent a Client, where assessments, balances, slips and CRA mail all sit. When you need a person, use the enquiries line for your programme from the contact page on canada.ca, and have your social insurance or business number plus a figure from a recent return ready for identity checks. Written enquiries go to the tax centre named on your notice of assessment.
Those are American terms. The Canadian equivalent is the personal tax credits return you complete for an employer, claiming the federal and provincial basic personal amount plus any other credits you qualify for, such as tuition or the disability amount. Your employer uses it to set the tax withheld from each paycheque. The federal basic personal amount for 2026 is $16,452, tapering to $14,829 as net income runs from $181,440 to $258,482.
Yes. Footwear is a taxable supply, so Ontario's 13% HST applies to adult shoes, and GST at 5% plus any provincial tax applies elsewhere. Children's footwear is treated differently in Ontario: a point-of-sale rebate removes the provincial part of the HST for children's shoes up to a specified size, leaving the 5% federal part. Retailers apply that rebate at the till. The CRA's point-of-sale rebate guidance sets out which sizes qualify.
There is no single figure, because the answer moves with your province and your credits. For the 2026 tax year the bottom federal bracket is 14%, and it only applies above the basic personal amount of $16,452, so federal tax lands well below the headline rate. Your province then adds its own rate and its own personal amount. CPP and EI are deducted separately from tax. The CRA payroll deductions online calculator gives your own number.
The spouse or common-law partner amount is a non-refundable credit for someone supporting a partner with little income of their own. It starts from a base amount set each year, is reduced as the partner's net income rises, and disappears once that income passes the cut-off, so it helps couples where one earns much less. Report your partner's net income on your return even when it is nil, because several credits and benefits depend on it.
The refund or balance owing sits in the summary section at the end of the T1, after total credits are set against total tax payable. That is your own calculation, though, not the final word. The amount the CRA actually pays appears on your notice of assessment and in CRA My Account, and it can differ if slips, credits or an older balance changed the result. The notice sets out any change it made.
Both, at different points in the statements. Income tax for the period is an expense on the statement of profit or loss, while the amount still owing at the reporting date sits on the balance sheet as a liability, usually shown as income taxes payable. Sales tax works differently again: GST/HST you collect is never revenue and never an expense, it is a liability owed to the CRA net of the input tax credits you claim.
Bring every slip issued to you for the year, T4, T5 and T3 among them, plus receipts for deductions and credits such as RRSP contributions, medical expenses, donations, child care and tuition. Add last year's return and notice of assessment, any CRA letters, and the authorisation your preparer needs to see your account. If you have self-employment or rental income, bring income and expense totals with the records behind them. Flag any change in marital status, dependants or residency.
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)
