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At Tax Filings Canada, we handle every part of your net-worth audit assistance, 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 net-worth audit assistance across Canada: audit responses, notices of objection, voluntary disclosures and relief requests, built for taxpayers facing reviews, arrears and disputes, with payment only after your work is complete.
Hand over your documents once; we will tell you if anything is missing.
Preparation happens on our desk, not yours — including the net-worth audit assistance details that are easy to overlook.
A review meeting or call walks you through the draft before you give the go-ahead.
After sign-off, we file, arrange any balance owing, and close the loop with you.
| 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. The Voluntary Disclosures Program can waive gross-negligence penalties and part of the interest — but only while the CRA has not yet contacted you. Our net-worth audit assistance engagement is priced as a pocket-friendly flat fee, so the cost is known before the work starts.
Clients often arrive treating net-worth audit assistance as a form-filling exercise. In practice, a tax services provider spends more time on judgment calls than on data entry — and those calls are what these notes cover.
The starting point is not a strategy but a constraint: A review is won on documentation created at the time, not explanations offered afterwards. An unsupported claim is simply disallowed, however correct it was.
The second point follows directly from the first. Collections action can proceed while an objection is outstanding for GST/HST and payroll amounts. That is why a filed objection is not by itself protection against a bank freeze. And on timing: Taxpayer relief applications can cancel penalties and interest arising from CRA delay, serious illness or a natural disaster. The CRA is limited to the ten prior calendar years.
You do not need to hold all of this in your head. You need someone who does — and an income tax specialist handling net-worth audit assistance week after week keeps these rules current so you do not have to. What you bring to the table determines how quickly the net-worth audit assistance work proceeds — start with the items below.
Every net-worth audit assistance engagement carries the same commitments: a fixed fee settled before we begin, your sign-off before anything is filed, and payment only after the service is complete.
Providing transparent fixed pricing and high-quality compliance work for your net-worth audit assistance requirements.
Coverage: Standard bookkeeping and net-worth audit assistance 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 net-worth audit assistance needs?
Providing tailored net-worth audit assistance 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.
Risk-Free, Hassle-Free, and Client-First!
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See how our expert Net-Worth Audit Assistance tax and accounting services have helped Canadian businesses save money and stay compliant.
A taxpayer with frozen bank accounts in Kitchener, Ontario faced a $31,000 proposed reassessment. It came after a waiver signed at the counter that kept an otherwise closed year open with no end date. We rebuilt the documentation and the adjustment was withdrawn in full.
A taxpayer with frozen bank accounts in Kitchener, Ontario received a proposal letter opening a review of net-worth audit assistance. The CRA had identified a waiver signed at the counter that kept an otherwise closed year open with no end date. It proposed an adjustment of $31,000, with 30 days to respond. We treated the response as an evidence exercise rather than an argument. We kept the waiver narrowed to the issue actually under review and let the remaining years close on the normal reassessment period. We then indexed every supporting document against the specific line the auditor had questioned. The proposed adjustment was withdrawn in full — all $31,000 of it. The file closed in 5 weeks with no change to the assessed amounts and no penalty.
A taxpayer whose objection window has closed in Windsor, Ontario expanded into a second province. The file already carried a director liability assessment for a corporation that had already stopped operating. Every obligation was set up in advance and $115,000 of cash released.
Revenue at a taxpayer whose objection window has closed in Windsor, Ontario was up sharply and cash was tighter than ever. Underneath it sat a director liability assessment for a corporation that had already stopped operating. We filed the Tax Court appeal inside the window and resolved the remaining adjustments before a hearing date was needed. Every new obligation was set up before it was triggered, not after. That covered registration, remittance frequency and provincial filing. $115,000 of cash was released from the working capital cycle. The expansion completed with every registration and filing obligation covered from day one.
A taxpayer applying for relief from penalties and interest in Kelowna, British Columbia was filing correctly and still overpaying. The reason was six years of unfiled corporate and personal returns and an active collections file. Restructuring the position cut $23,500 from the annual bill.
A taxpayer applying for relief from penalties and interest in Kelowna, British Columbia was compliant but paying more than it needed to. The prior year had been filed correctly. It still left six years of unfiled corporate and personal returns and an active collections file on the table. We modelled the current position against the alternatives before changing anything. Then we requested the auditor’s working papers and report to see how the assessment had been built before answering any of it. The change saved $23,500 in the first year and repeats annually. Nothing about the filings became more aggressive. The position is simply the one the rules already allowed.
A taxpayer with eight years of unfiled returns in Toronto, Ontario was overpaying instalments. The cause was a confirmation letter left in a drawer until the appeal window had closed. Rebasing them returned $133,000 to the business.
A taxpayer with eight years of unfiled returns in Toronto, Ontario was paying instalments calculated on a prior year. That year no longer reflected the business. A confirmation letter left in a drawer until the appeal window had closed was tying up $133,000 of cash. We rebased the instalments on the current-year estimate rather than the prior-year default. Alongside that, we assembled the contemporaneous records, filed a structured response to each proposed adjustment with the supporting documents indexed, and had the proposal withdrawn. $133,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
The ledger at a professional under a lifestyle audit in Mississauga, Ontario could not support its own filings. The reason was an audit conducted over the phone, with nothing on file showing what had been provided or when. Rebuilding it surfaced $2,700 in unclaimed input tax.
A professional under a lifestyle audit in Mississauga, Ontario could not answer basic questions about its own numbers. An audit conducted over the phone, with nothing on file showing what had been provided or when sat between the bank statements and the ledger. We brought every outstanding return current, then negotiated a payment arrangement that stopped the collections action. We then documented the process so the work does not depend on any one person remembering how it was done. Records rebuilt and reconciled, $2,700 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
A family business under a related-party review in Winnipeg, Manitoba was 5 weeks from a deadline. The file also carried an objection deadline that had passed with no extension applied for. Filing complete and on time avoided roughly $72,000 in penalties.
A family business under a related-party review in Winnipeg, Manitoba came to us 5 weeks before its filing deadline. The file came with an objection deadline that had passed with no extension applied for. A late filing would have triggered a penalty of roughly $72,000 before interest. We worked backwards from the deadline. We traced each unexplained deposit to its source — loans, transfers between accounts, an insurance settlement — and reduced the net-worth assessment accordingly. We prioritised the items that actually gated the filing and deferred everything that did not. The return was filed on time and complete. The $72,000 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Meet the specialists behind your Net-Worth Audit Assistance 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.
Net-Worth Audit Assistance 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 net-worth audit assistance 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.
Taxpayer relief applications can cancel penalties and interest arising from CRA delay, serious illness or a natural disaster. The CRA is limited to the ten prior calendar years. 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.
There is a widespread assumption here, and the actual position is worth stating plainly. The normal reassessment period runs three years from the original notice of assessment for an individual or a CCPC and four years for other corporations. A waiver signed at an auditor’s request removes that limit for the issue it describes. It stays open until it is revoked. If your current setup was built on the assumption instead of the rule, that is fixable — but sooner is better than later.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Alberta is the only province with no provincial sales tax, and the Northwest Territories, Nunavut and Yukon have none either. In all four you pay just the 5% federal GST in 2026. Everywhere else adds something, all at 2026 rates: HST of 13% in Ontario, 14% in Nova Scotia and 15% in New Brunswick, Newfoundland and Labrador and Prince Edward Island; a separate PST of 7% in British Columbia and 6% in Saskatchewan; Manitoba's retail sales tax (RST) of 7%; and QST of 9.975% in Quebec.
Pay it the same way you pay any CRA balance: through your financial institution's online banking using the CRA as a payee, through My Account or My Business Account, by pre-authorised debit, by debit or credit through a third-party provider, or at a bank counter with a remittance voucher. Choose the correct account and tax year so it is applied properly. If the penalty came from circumstances beyond your control, form RC4288 asks the CRA to cancel or waive it.
Call the CRA enquiries line for your situation, whether individual, benefits, business or collections, from the contact page on canada.ca, then work through the automated menu to reach an agent. Have your social insurance or business number, your address and a figure from a recently assessed return ready, because the agent cannot discuss the account without them. Early morning is usually quieter. To have someone speak for you, file an authorisation such as the AUT-01 first.
A review is not an audit. The CRA asks for receipts or documents supporting a claim, gives a date to respond, then either accepts the return as filed or issues a reassessment. Timing depends on the type of review and how fast complete documents arrive; sending everything requested in one package is the fastest route. Track progress in CRA My Account, where the letter and the outcome both appear.
Call the CRA's individual or business enquiries line, both listed on the Contact the CRA page at canada.ca. Have your social insurance number or business number, your date of birth, and a line amount from a recent return ready, because the agent verifies you before discussing anything. Lines are quietest early in the morning and outside filing season. You can also authorise someone to call on your behalf using form AUT-01.
Canada has no joint return, so each spouse files their own T1. You still report each other's details, because the CRA combines family net income to work out the GST/HST credit, the Canada child benefit and several income-tested credits. Filing at the same time helps: transferred credits, the spouse or common-law partner amount and pooled medical or donation claims only work correctly when both returns line up. One partner not filing can stall the family's benefit payments.
Two separate charges. The late-filing penalty is a percentage of the balance owing when you file after the deadline: 5% of that balance plus 1% for each full month late, to a maximum of 12 months. Interest is charged on any unpaid balance and on the penalty itself, compounded daily at the prescribed rate the CRA sets each quarter. Look up the current quarter's rate on the CRA's prescribed interest rates page.
Ottawa is in Ontario, so sales tax is 13% HST, the federal GST harmonised with the provincial part, charged on most goods and services in 2025 and 2026. There is no separate city sales tax. Some items are zero-rated or exempt, such as basic groceries, and a few carry a point-of-sale rebate of the provincial part. Ottawa property tax is a different tax, set by the city on your assessed value.
Canada has no single dependant credit. Depending on your situation you may claim the amount for an eligible dependant, available to a supporting person without a spouse for one dependent relative, or the Canada caregiver amount where the dependant has a physical or mental impairment. Each is non-refundable, each is reduced by the dependant income, and only one person may claim a given dependant. Take the current amounts from the federal schedule for the year you are filing.
No. Where you give your spouse funds and they contribute to their own TFSA, the income and growth inside that plan are tax free and nothing is attributed back to you. There is no spousal TFSA, so the contribution uses your spouse's own room and the account belongs to them. Attribution can still apply later: once the money is withdrawn and invested in a non-registered account, income earned on it may be attributed to you.
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.
Schedule 5 is where you claim the amounts for a spouse or common-law partner and dependants: the spouse or common-law partner amount, the amount for an eligible dependant, the Canada caregiver amount and amounts for an infirm dependant. For each person you enter the name, relationship, date of birth and net income, and the schedule works out what carries to your return. Tax software builds it from the family details you enter, so the net income figures must be accurate.
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)
