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At Tax Filings Canada, we handle every part of your multi-company bookkeeping, 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 multi-company bookkeeping in Canada? Tax Filings Canada delivers monthly reconciliations, GST/HST-ready ledgers and receipt capture for owner-managed businesses and growing teams — budget-friendly fixed fees quoted up front, and you pay only after you approve the work.
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We prepare your multi-company bookkeeping and every supporting schedule.
You review each figure and approve before anything is filed.
We file with the CRA, and you pay only after it is complete.
| 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 CRA requires business records to be kept for six years from the end of the last tax year they relate to. Because the fee is fixed and budget-friendly, the economics stay predictable whether your file is simple or messy.
Before you hand multi-company bookkeeping to anyone, it is worth knowing what the work actually turns on.
Start with the rule that decides most files: 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.
Layer a second constraint on top and the picture sharpens: 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. Where clients most often get hurt is not the calculation but the follow-through, and the rule reads plainly. 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 common thread in these rules is that they punish assumptions and reward verification. Engaging an accountant for multi-company bookkeeping is, at bottom, a way of replacing assumptions with checked answers. The engagement goes fastest when last year’s filings and the current ledger arrive together.
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 multi-company bookkeeping requirements.
Coverage: Standard bookkeeping and multi-company bookkeeping preparation.
Ideal for early-stage startups and sole proprietors.
Book NowCoverage: Full-service bookkeeping, filings, and CRA compliance support.
Perfect for established small businesses.
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Ideal for companies seeking high-growth financial structuring.
Book NowWhy you should partner with Tax Filings Canada Experts for all your multi-company bookkeeping needs?
Providing tailored multi-company bookkeeping 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 Multi-Company Bookkeeping tax and accounting services have helped Canadian businesses save money and stay compliant.
An 11-week rebuild at a food-truck operator running two seasonal units in Red Deer, Alberta got the filing in with 8 days to spare. That avoided $74,000 in penalties.
A food-truck operator running two seasonal units in Red Deer, Alberta was weeks away from the deadline for multi-company bookkeeping. Behind that sat meals and entertainment coded at full cost with the input tax credit claimed on the whole amount. The exposure if the date slipped was around $74,000. We converted the foreign-currency purchases at transaction-date rates and recorded the exchange difference at settlement instead of burying it in cost of sales. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 8 days to spare. $74,000 in late-filing penalties avoided, and the working papers are ready for the following year.
A wedding photography studio in London, Ontario was overpaying instalments. The cause was eighteen months of unreconciled transactions and a shoebox of receipts. Rebasing them returned $93,000 to the business.
A wedding photography studio in London, Ontario was paying instalments calculated on a prior year. That year no longer reflected the business. Eighteen months of unreconciled transactions and a shoebox of receipts was tying up $93,000 of cash. We rebased the instalments on the current-year estimate rather than the prior-year default. Alongside that, we separated the owner’s personal spending out of the corporate accounts and cleared the resulting shareholder loan properly. $93,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
A small law practice in Winnipeg, Manitoba expanded into a second province. The file already carried a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account. Every obligation was set up in advance and $155,000 of cash released.
Revenue at a small law practice in Winnipeg, Manitoba was up sharply and cash was tighter than ever. Underneath it sat a bookkeeping file where owner draws, payroll and supplier payments all landed in the same account. We cleared the payroll and sales tax clearing accounts every month and tied each remittance to the liability it settled. Every new obligation was set up before it was triggered, not after. That covered registration, remittance frequency and provincial filing. $155,000 of cash was released from the working capital cycle. The expansion completed with every registration and filing obligation covered from day one.
An owner-operated trades business in Calgary, Alberta had never tested its work against the eligibility rules. The resulting $119,000 claim was accepted without adjustment.
An owner-operated trades business in Calgary, Alberta assumed the credits did not apply to a business its size. A receivables list that included invoices collected eleven months earlier meant they had applied all along. We identified the qualifying activity and built the documentation to support it. Then we reconciled receivables and payables to source documents and wrote off the balances that were genuinely uncollectible, with support. $119,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
7 years of returns were outstanding at a courier subcontractor paid by the drop in Barrie, Ontario. That came on top of a payroll clearing account that had never been brought to zero, carrying a balance nobody could explain. Filing on real numbers removed $47,000 of assessed tax.
A courier subcontractor paid by the drop in Barrie, Ontario had not filed for 7 years. The CRA had issued arbitrary assessments. The business was carrying a payroll clearing account that had never been brought to zero, carrying a balance nobody could explain. That came on top of a growing interest balance. We started with the oldest year and worked forward so each year's closing balances fed the next. We rebuilt the ledger from bank and card statements and matched every receipt to a transaction. We removed duplicated input tax credits before they became a review. We filed the years in sequence rather than all at once. Every year is now filed and assessed on actual figures. The notional assessments were vacated and $47,000 of the estimated balance came off, with a payment arrangement covering the rest.
A home-renovation contractor in Kitchener, Ontario was carrying $40,000 of penalties and interest. The charges arose from input tax credits claimed on receipts that had already been claimed once. A relief application cancelled that amount.
An assessment of $40,000 landed at a home-renovation contractor in Kitchener, Ontario following a desk review. It turned on input tax credits claimed on receipts that had already been claimed once. The auditor had not seen the records behind it. We rebuilt sales from the processor settlement reports so gross sales, fees and refunds each landed in an account of their own. We then set out the legislative basis for the position alongside the documents supporting it. $40,000 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 Multi-Company Bookkeeping 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.
Multi-Company Bookkeeping 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 multi-company bookkeeping 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.
Here is what the rules actually say, stripped of the folklore: Meals and entertainment are deductible at 50 percent of the lesser of the amount paid and a reasonable amount under subsection 67.1(1). The recoverable share of the GST/HST on those costs is restricted in the same proportion, with the excess recaptured. Coding them at full value overstates both the deduction and the credit. Our role as your tax specialist is to apply that cleanly to your situation rather than to a hypothetical one.
It depends less on opinion than owners assume. Personal expenses run through a corporate account are shareholder benefits, taxable to the shareholder personally whether or not they were ever labelled as such. Once you know that, the practical question becomes timing and documentation — both of which we handle inside the engagement.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
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.
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.
Car insurance is claimable only for the business or employment use of a vehicle, never for personal driving. Keep a log of business kilometres and total kilometres for the year, then claim that share of insurance along with fuel, repairs, licence fees and loan interest. Employees need their employer to certify in writing that the vehicle was required for the job. Driving between home and a regular workplace counts as personal use.
Divide the total by one plus the rate. At Ontario's 13% in 2026, a $113 tax-included total is $113 divided by 1.13, or $100 before tax and $13 of HST. Use 1.14 in Nova Scotia, 1.15 in New Brunswick, Newfoundland and Labrador and Prince Edward Island, and 1.05 where only the 5% GST applies. Multiplying the total by 13 over 113 gives the Ontario tax directly.
Yes. A mortgage is a liability on the balance sheet, carried at the outstanding principal and normally split between the portion due within twelve months and the long-term remainder. The property sits on the other side as an asset. Only interest is an expense; principal repayments reduce the liability and never reach the income statement. For a rental or business property, that same interest-versus-principal split is what determines the deductible amount on the tax return.
Interest is normally an exempt financial service, so you do not charge GST/HST on interest you earn or on interest you add to an overdue invoice. Exempt supplies differ from zero-rated ones: zero-rated sales are taxed at 0% and still let you recover input tax credits, while exempt supplies do not. If most of your revenue is exempt, your registration position and credit recovery both change, so review the CRA's financial services guidance.
Tax is owing because the amounts withheld or paid by instalments during the year fell short of the tax your return calculates. Usual causes are a second job or pension where each payer withholds as if it were your only income, self-employment or gig income with nothing deducted at source, investment or rental profit, and CPP payable on self-employed earnings. Compare the tax deducted on your slips against the total tax on the return to find the gap.
Start from gross pensionable and insurable earnings for the pay period. Take off Canada Pension Plan contributions and Employment Insurance premiums at the prescribed rates up to the annual maximums, then apply the federal and provincial income tax tables to taxable pay after registered pension and other authorised deductions, using the claim code from the employee's TD1 forms; for an employee in Quebec you instead withhold Quebec Pension Plan contributions, the reduced Quebec EI rate and Quebec Parental Insurance Plan premiums, take federal tax under the CRA's Quebec tables and provincial tax under Revenu Québec's own tables against the provincial source-deduction form, and remit the Quebec portion to Revenu Québec. Add the employer share of CPP and EI, and remit the total by your remittance due date.
Most of these are not exempt. They are either zero-rated or covered by a point-of-sale rebate, which is a different thing. Basic groceries and unbottled water are zero-rated. Printed books carry GST, and Ontario, New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island rebate the provincial part at the till, as Ontario also does for children's clothing. Firewood is taxable. Domestic freight is taxable and international freight is generally zero-rated.
Employment income is everything your employer pays or provides for your work: salary or wages, overtime, bonuses, commissions, employer-controlled tips, and the value of taxable benefits such as a company vehicle or certain allowances. It shows in box 14 of your T4, before deductions. Add every T4 you receive, plus tips the employer did not report, then subtract only the limited employment deductions you qualify for, such as union dues or approved work-space costs.
The digital services tax is a Canadian levy on revenue that very large digital businesses earn from Canadian users. In late June 2025, days before the first payments were due, the government announced during trade talks with the United States that it would rescind the tax, and collection was halted. Whether the legislation has since been repealed or only stopped applying should be confirmed on the Department of Finance and CRA digital services tax pages before you register, file or pay.
No. Rent is property income and is reported every year on your return, net of the expenses allowed against it such as mortgage interest, property tax, insurance and repairs. A capital gain arises only when you dispose of the property, measured against its adjusted cost base. The two are calculated and taxed separately, so a profitable year of rent has no bearing on the gain or loss you eventually report on the sale.
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 — Keeping records · CRA — Businesses · Income Tax Act (Justice Laws Website)
