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At Tax Filings Canada, we handle every part of your holding company tax 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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Tax Filings Canada provides pocket-friendly, fixed-fee holding company tax 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.
Everything starts with your documents — send what you have and we will sort it.
We build the holding company tax planning file carefully, matching your records line by line.
The draft comes back to you for a proper look, not a rushed signature.
When you say go, we file it and follow up with the confirmation.
| 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. We quote holding company tax planning as one pocket-friendly fixed price — the budget-friendly alternative to hourly billing.
Clients often arrive treating holding company tax planning as a form-filling exercise. In practice, an accounting firm spends more time on judgment calls than on data entry — and those calls are what these notes cover.
Everything in holding company tax planning hangs off a single anchor. A qualifying amalgamation under section 87 ends the tax year of every predecessor corporation immediately before the amalgamation. A final T2 is therefore due for each predecessor for that short year. Loss balances of the predecessors continue into the amalgamated corporation under the continuity rules. However, the amalgamated corporation cannot carry a later loss back into a predecessor year. The one exception is the limited case the Act allows for a wholly-owned subsidiary.
The next point is the one an accounting firm checks before quoting any timeline: Subsection 88(1) applies when a Canadian subsidiary is wound up into a Canadian parent that holds at least 90 per cent of each class of its shares. The property then moves across at cost amounts rather than at fair market value. The bump available on that wind-up reaches only non-depreciable capital property. It is bounded by the cost of the subsidiary shares to the parent measured against the tax cost of the net assets received. And on timing: On a wind-up that does not fall inside subsection 88(1), the distribution of property to shareholders gives rise to a deemed dividend under subsection 84(2). It arises to the extent the value distributed exceeds the paid-up capital of the shares. The capital dividend account balance and the eligible dividend designations have to be dealt with before the final distribution. That is because the corporation ceases to exist once it is dissolved.
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 an accounting firm covers. The engagement goes fastest when last year’s filings and the current ledger arrive together.
No surprises is the operating principle: the fee is agreed and fixed before we start, you review everything before it is filed, and payment comes after the work, not before.
Providing transparent fixed pricing and high-quality compliance work for your holding company tax planning requirements.
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Providing tailored holding company tax planning services to ensure compliance and maximize deductions.
Our tax accountants keep your business compliant with federal and provincial tax rules.
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Customized packages designed to grow as your business operations expand.
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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 Holding Company Tax Planning tax and accounting services have helped Canadian businesses save money and stay compliant.
An $89,000 reassessment was proposed against a redundant subsidiary corporation in Kitchener, Ontario. It followed a trust still holding capital property with its twenty-one-year deemed disposition inside the planning horizon. The documented response reduced it to nil.
A review notice arrived at a redundant subsidiary corporation in Kitchener, Ontario, covering holding company tax planning for two tax years. The auditor's working position was an adjustment of $89,000. It was driven by a trust still holding capital property with its twenty-one-year deemed disposition inside the planning horizon. Rather than negotiate, we rebuilt the record. We filed the short-year T2 for each predecessor corporation and chose the first year-end of the amalgamated corporation deliberately. We carried the predecessor loss balances forward under the continuity rules. We then submitted a point-by-point response that answered each proposed adjustment with the document behind it. The auditor accepted the documented position and closed the review without adjustment, protecting $89,000 and leaving the prior filings undisturbed.
The CRA had assessed an owner separating surplus assets from the operating business in Victoria, British Columbia on estimates across 4 unfiled years. Real filings vacated $82,000 of that tax.
4 years of unfiled returns had turned into notional assessments at an owner separating surplus assets from the operating business in Victoria, British Columbia. Underneath lay a dividend paid up to the holding company with no safe income on hand computed behind it. Collections had already started. We filed the section 85 election on form T2057 with the elected amounts set at the cost amounts of the transferred property. We kept the non-share consideration inside those amounts, so nothing was realised on the transfer. We then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly. All 4 years were accepted as filed. $82,000 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 4 years.
An 8-week rebuild at an investment-heavy operating company in Moncton, New Brunswick got the filing in with 10 days to spare. That avoided $101,000 in penalties.
An investment-heavy operating company in Moncton, New Brunswick was weeks away from the deadline for holding company tax planning. Behind that sat an inter-company balance and a shareholder loan left outstanding between the corporations being merged. The exposure if the date slipped was around $101,000. We reviewed the paid-up capital of each class, the capital dividend account and the eligible dividend designations before the final distribution. We dissolved the corporation and requested the clearance certificate. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 10 days to spare. $101,000 in late-filing penalties avoided, and the working papers are ready for the following year.
A remuneration review at a parent corporation winding up a dormant subsidiary in Kelowna, British Columbia saved $55,000 across the corporate and personal returns. It found a freeze completed years earlier with nothing on file to support the value placed on the preferred shares.
Nothing was wrong at a parent corporation winding up a dormant subsidiary in Kelowna, British Columbia. The filings were on time and accurate. What they were not was planned. A freeze completed years earlier with nothing on file to support the value placed on the preferred shares had never been reviewed. We moved the redundant investments out of the operating company into a holding company on a tax-deferred basis. That brought the asset mix back inside the qualified small business corporation tests. We ran the numbers across both the corporate and personal returns, so the saving was real rather than deferred into someone else's hands. $55,000 came off the combined corporate and personal tax bill, and the structure holds for future years without further work.
4 years of filings at a three-tier corporate group in Lethbridge, Alberta had never claimed the incentives the work qualified for. The review recovered $60,000.
A three-tier corporate group in Lethbridge, Alberta had been filing for 4 years. In that time, the incentives its activity qualified for were never claimed. Behind that sat an inter-company balance and a shareholder loan left outstanding between the corporations being merged. We tested each activity against the eligibility criteria rather than the description on the invoice. Then we reorganised the share capital under section 86 and exchanged the founder common shares for fixed-value redeemable preferred shares. We issued the growth shares to the successors on a valuation the file could support, with a price adjustment clause behind it. $60,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
The structure at a two-subsidiary holding company in Calgary, Alberta no longer fitted the business. A rollover completed in an earlier year with no section 85 election ever filed for it showed it. Rebuilding it saves $10,500 a year.
The structure at a two-subsidiary holding company in Calgary, Alberta dated from years earlier. It had been set up for a business that no longer existed. A rollover completed in an earlier year with no section 85 election ever filed for it had become expensive. We confirmed that subsection 75(2) had never applied to the property. We then distributed the capital property of the trust to the resident capital beneficiaries on a subsection 107(2) rollover ahead of the twenty-one-year date. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself. $10,500 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
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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.
Holding Company Tax 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 holding company tax 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.
The short answer comes straight from our working notes: 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. How that plays out on your file depends on the specifics, which is exactly what the engagement is for.
The first fiscal year-end must fall within 53 weeks of incorporation and sets every filing deadline that follows. Share structure decided at incorporation governs who can receive dividends later. Year-one choices are cheap to make and expensive to undo. Restructuring share classes after value has accrued triggers its own tax consequences. That is the part most owners have not heard before they sit down with us, and it usually changes what they do next.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
A tax return is the annual filing that reports your income, deductions and credits to the CRA so the final tax for the year can be settled. Payers withhold tax during the year and the return reconciles that against what you actually owe, producing either a refund or a balance to pay. For 2025 returns filed in 2026, refunds usually arrive in about two weeks for an online return, while a paper return runs on a considerably longer standard because it is handled manually.
For 2025 returns filed in 2026, most online returns are processed in about two weeks, and a non-resident return can take up to sixteen weeks. A paper return runs on a considerably longer standard because it is handled manually. Those timeframes assume a complete return that is not pulled for review. Register direct deposit and track progress in CRA My Account rather than waiting on a posted cheque.
Multiply the pre-tax price by the combined rate for the province where the supply is made, then add that amount to the price. If the price already includes tax, divide the total by one plus the rate to get the pre-tax amount, and the difference is the tax. The rate depends on the province of supply rather than where your business sits, so verify the current rate for that province and confirm the item is not zero-rated or exempt.
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.
Call the enquiry line for your situation, listed by topic on the CRA contact pages at canada.ca, then follow the automated menu to the option for speaking with an agent. Have your social insurance number or business number, your latest return and a recent notice of assessment ready, because the agent must verify you before discussing anything. Waits peak around the filing deadline and early calls connect faster. The CRA runs no walk-in tax counters.
The federal goods and services tax is 5% in 2026, and has been since it dropped from 6% to 5% on 1 January 2008. You pay the 5% on its own in Alberta, the Northwest Territories, Nunavut and Yukon. In British Columbia, Manitoba, Saskatchewan and Quebec it sits alongside a separate provincial tax, and in the five participating provinces it is folded into the HST rate.
Rarely on its own. Municipal tax follows the assessed value set by your province's assessment authority, not your renovation invoices. Work that adds living space, finished area or a permanent structure usually prompts a reassessment; replacing or paving a driveway generally moves market value very little. Building permits are how an assessor normally learns of changes. Your assessment notice explains how to ask for a review if the value looks wrong after work is done.
Gross pay is before deductions. It is the full amount you earned for the period, ahead of income tax, CPP and EI. Net pay, or take-home pay, is what reaches your bank account after those amounts come off. Your T4 reports gross employment income in one box and each deduction in its own box, so the figure you carry to your return is the gross amount, not what you actually received.
Both federal and provincial tax apply, and the rates are graduated rather than flat. For 2026 the lowest federal bracket is taxed at 14%, and the federal basic personal amount of $16,452 shelters the first slice of income, so tax on $49,000 works out well below 14% of the whole amount. Your province adds its own bracket and credits, and CPP and EI also come off employment pay. Use the CRA's payroll deductions calculator.
Owing usually means not enough tax was withheld during the year. Common causes are two or more jobs where each employer applied the basic personal amount, pension or benefit payments with little or no tax taken off, self-employment or rental income with no withholding, investment income, RRSP withdrawals taxed at a flat rate below your bracket, or a bonus taxed too lightly. Ask a payer to withhold extra, or make instalments.
The CRA assigns tax centres by where you live, so the right one depends on your province or territory, and for a corporation on where its records are kept. The mailing address is printed in the return package and listed on the CRA's page of addresses, which is the only reliable source because centres are consolidated from time to time. Filing electronically removes the question altogether and gets a refund out in about two weeks rather than months.
Sometimes. GST or HST applies when land is sold in the course of a business or by a builder, such as a commercial lot or subdivided development land, at 5% GST or the provincial HST rate, which is 13% in Ontario for 2026. A sale of personal-use vacant land by an individual is often exempt. Separately, most provinces and some cities charge land transfer tax on the buyer. Settle the GST/HST treatment in the agreement before closing.
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)
