Fixed-Fee. Trusted. Accurate. Quick. Easy. Economical.
100% Risk-Free, Satisfaction, Guarantee, Price Match – Pay After Service
At Tax Filings Canada, we handle every part of your intercompany reconciliation, 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.
Secure Fixed Quote
Fill details below to lock in pricing and get started today.
Stay compliant and optimize your financial processes with our specialized intercompany reconciliation services.
No hidden fees. Pay only after your service is completed. The fee is agreed before any work starts.
Intercompany Reconciliation from Tax Filings Canada gives small businesses, corporations and startups year-end financial statements, T2-ready working papers and CRA-compliant records at a low-cost fixed fee agreed before work begins — no hourly billing, no surprise invoices.
Start by sharing your documents; a quick checklist from us tells you exactly what we need.
Our team gets to work on your intercompany reconciliation file, preparing every schedule that applies to you.
Before anything goes out, you see the full picture and sign off at your own pace.
With your approval in hand, we handle the filing and let you know the moment it is done.
| 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 |
Clean, reconciled books are what turn a T2 filing into a review rather than a scramble — and what stands up when the CRA asks for support. Our intercompany reconciliation engagement is priced as a low-cost flat fee, so the cost is known before the work starts.
Most write-ups of intercompany reconciliation describe the form. These notes describe the file — what an accounting firm checks first and why.
Everything in intercompany reconciliation hangs off a single anchor. Inventory is valued at the lower of cost and net realisable value, applied consistently. Changing method without CRA consent reopens prior years. Obsolete stock carried at cost overstates income, and the write-down is usually taken years after it was justified.
A related rule tends to get overlooked precisely because the first one draws all the attention: An expense is deductible where it was incurred to earn income and is reasonable in the circumstances. The business-use portion must be supported, which for vehicles means a logbook. The CRA rarely argues that an expense category is wrong; it argues that the proportion claimed was never substantiated. Then there is the matter of timing, which forgives very little: 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.
Taken together, these rules explain why intercompany reconciliation can rarely be treated as a do-it-once-and-forget exercise. An accounting firm watches how they interact across your specific facts, which is something no checklist can do. Every intercompany reconciliation file rests on documentation, so start by collecting.
The last note is about how we work rather than the rules: every engagement comes with a fixed fee agreed up front, a review with you before filing, and payment after — not before — the service.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your intercompany reconciliation requirements.
Coverage: Standard bookkeeping and intercompany reconciliation 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 intercompany reconciliation needs?
Providing tailored intercompany reconciliation services to ensure compliance and maximize deductions.
Our certified accountants protect your business with complete federal and provincial tax compliance.
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.
Risk-Free, Hassle-Free, and Client-First!
Schedule a Free ConsultationUse our office finder below to select your nearest accountant tax filing expert.
See how our expert Intercompany Reconciliation tax and accounting services have helped Canadian businesses save money and stay compliant.
A dental hygiene clinic in Hamilton, Ontario expanded into a second province carrying sales recorded from bank deposits, so processor fees, chargebacks and refunds appeared nowhere in the ledger. Every obligation was set up in advance and $37,500 of cash released.
A home-renovation contractor in London, Ontario had outgrown its structure, with eighteen months of unreconciled transactions and a shoebox of receipts the visible cost. The reorganisation completed tax-deferred and saves $14,000 a year.
A second opinion for a wedding photography studio in Kitchener, Ontario found three years of returns filed off numbers nobody could trace back to a bank statement in prior filings and recovered $34,500 a year.
Collections had begun against a residential cleaning franchise in Moncton, New Brunswick over 5 years of unfiled returns. Bringing them current cut $84,000 from the balance.
Remittances at a mobile pet-grooming company in Lethbridge, Alberta were chronically late because of input tax credits claimed on receipts that had already been claimed once. Fixing the schedule refunded $112,000.
A family transfer at an owner-operated trades business in Mississauga, Ontario would have been fully taxable because of a shareholder loan balance that would have been picked up as income on closing. Restructuring deferred $530,000.
Meet the specialists behind your Intercompany Reconciliation 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.
Intercompany Reconciliation 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 are a cloud-based practice serving every province and territory, 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 intercompany reconciliation 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.
Personal expenses run through a corporate account are shareholder benefits, taxable to the shareholder personally whether or not they were ever labelled as such. We flag this early with every client it touches, because finding it out at filing time leaves you far fewer options than finding it out now.
The honest starting point is this: Cash-basis records are not acceptable for a corporation. Income must be reported on the accrual basis, with receivables and payables recognised when they arise rather than when the money moves. Everything else we would tell you is tailoring, and tailoring requires seeing your file.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Tax exempt describes an amount or a transaction that tax does not apply to at all, which is different from a deduction or credit that merely reduces tax. Common examples are supplies that are exempt or zero-rated for GST/HST, investment income earned inside a TFSA, and specific receipts Parliament has excluded from income. Registered charities and non-profits can be exempt from income tax while still carrying filing duties. Exemption is never automatic; the rule must fit your facts.
GST or HST is calculated on the selling price of a taxable supply and shown separately on the invoice. Place-of-supply rules decide which province's rate applies, and that is usually where the customer receives the goods or service rather than where you operate. A registrant remits the tax collected less input tax credits for GST or HST paid on business purchases, so the amount sent to the CRA with each return is the net figure, not everything collected.
No. GST/HST you charge is tax you collect for the government, so a registrant keeps it out of revenue and reports it on the GST/HST return, claiming input tax credits against it. Report your sales net of the tax on your T2125 or T2. If you are not registered you charge no GST/HST, and the tax you pay on your own purchases is simply part of the cost of each deductible expense.
Work it from your own figures rather than a rule of thumb. A corporation on active business income pays 9% federally on the first $500,000 for 2026, plus the provincial small business rate — 3.2% in Ontario, falling to 2.2% on 1 July 2026 — so reserve that share of profit as you earn it. A sole proprietor should set aside at their marginal personal rate plus CPP. Keep GST/HST collected in a separate account; that money was never yours.
Yes. Realty tax, real property tax, real estate tax and municipal tax all describe the same annual charge your city or town levies on assessed property value. A bill often splits it into a municipal portion and an education or school portion, which is why wording differs between notices. It is not land transfer tax, which is a one-time charge on purchase, and not the federal Underused Housing Tax, which is a separate filing regime.
Because GST/HST follows the place of supply, not the seller's address. For goods, the rate is set by the province they are delivered to; for most services, by the customer's address on file. So an Ontario business billing Halifax charges 14% in 2026, Moncton 15%, and Calgary 5%. Getting it wrong means under-collecting or over-collecting, and the Canada Revenue Agency assesses any shortfall against the seller.
You remain responsible for what your return says, even when someone else prepared it, so the CRA assesses the tax, interest and penalties against you. A preparer who makes or participates in a false statement can face third-party penalties of their own, and may be liable to you for negligence, which is why engagement terms and professional insurance matter. Keep your source documents for six years from the end of the tax year they relate to.
A T4A reports amounts that are not employment income: pension and annuity payments, retiring allowances, self-employed commissions, research grants, scholarships, certain benefit payments, and fees paid for services to someone who is not your employee. The payer prepares it for the calendar year in which the amount was paid and must issue it by the last day of February in the following year. Payments to employees belong on a T4 instead.
You cannot write off the income itself, but you deduct the costs of earning it. Common current expenses are mortgage interest (not principal), property tax, insurance, utilities you pay, condo fees, advertising, property management, and repairs that maintain the property. Improvements that better the property are capital and depreciated instead. Only the rented portion counts where you also live there. Keep invoices for six years from the end of the tax year they relate to.
Yes, property tax is subtracted in getting to net operating income. NOI takes gross rental revenue less vacancy and the operating costs of running the property, including property tax, insurance, utilities, management, and repairs. It stops before mortgage principal and interest, capital expenditures and income tax. NOI is a lending and valuation measure, not a tax figure: taxable rental income also deducts mortgage interest and follows the CRA's rules on current versus capital costs.
A genuine CRA call can show as blocked, private or an unfamiliar number, so the display proves nothing either way. Judge the call by its content. The CRA will not demand payment by gift card, cryptocurrency or e-transfer, will not threaten immediate arrest or deportation, and will not ask for a passport or banking password. Hang up, then call an enquiry line published on canada.ca or check My Account for a real balance.
Yes, when the trip is for business. Accommodation on a business trip is fully deductible, unlike business meals and entertainment, where the Act allows only a portion of what you spend, and it holds whether you are self-employed or a corporation reimbursing an employee. Keep the folio, note the business purpose and who you met, and separate out any personal days you added. A hotel near your ordinary workplace, or an event you attend for personal interest, does not qualify.
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. Big 4 trained at Ernst & Young and Deloitte, and qualified as a chartered accountant in India and again in Malaysia, he founded his accounting practice in 2014 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.
