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At Tax Filings Canada, we handle every part of your purchase and sale tax due diligence, 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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Stay compliant and optimize your financial processes with our specialized purchase and sale tax due diligence services.
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Tax Filings Canada provides low-cost, fixed-fee purchase and sale tax due diligence across Canada: SR&ED claims, clean-economy credits and specialty elections, built for innovators and businesses with complex transactions, with payment only after your work is complete.
Share your records in one go or in pieces as you find them.
Our preparers work through your purchase and sale tax due diligence file and note anything worth discussing.
You approve the final version only after your questions are answered.
We submit on your behalf and keep the paper trail organized for 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 |
The T661 must reach the CRA within 18 months of year-end — a missed SR&ED deadline cannot be fixed afterwards. Because the fee is fixed and low-cost, the economics stay predictable whether your file is simple or messy.
No two purchase and sale tax due diligence files are identical, but the rules that govern them are stable. A tax services provider who works with Purchase and Sale Tax Due Diligence weekly keeps returning to the same anchors, and they are set out below.
One rule does most of the work here. Working capital, not profit, is what constrains growth. A business scaling receivables faster than it collects them runs out of cash while the income statement looks healthy.
The detail that surprises most owners comes next. Amounts received for services not yet performed are included in income when received, with a reserve available only where the statutory conditions are met. A cash balance built out of customer prepayments can carry a tax liability inside it. That is why deferred revenue is not a financing source. And on timing: Interest is deductible where the borrowed money is used to earn income from a business or property. The test is what the money actually funded. The paper trail linking each borrowing to its use is what supports the deduction when the loan and the spending sit years apart.
What this means in practice: the rules themselves are public, but applying them to your situation is where a tax services provider earns the fee. Two files can read the same rules and land in very different places. Here is what to have on hand so the purchase and sale tax due diligence work starts moving on day one.
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 compliance work for your purchase and sale tax due diligence requirements.
Coverage: Standard bookkeeping and purchase and sale tax due diligence 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 purchase and sale tax due diligence needs?
Providing tailored purchase and sale tax due diligence 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 Purchase and Sale Tax Due Diligence tax and accounting services have helped Canadian businesses save money and stay compliant.
Growth at a professional practice adding partners in Brampton, Ontario had outrun the back office. An owner making hiring decisions on last quarter’s bank balance broke first. Headcount reached 55 with $95,000 of cash freed.
A professional practice adding partners in Brampton, Ontario was growing fast, with headcount reaching 55 in eighteen months. The back office had not kept up. An owner making hiring decisions on last quarter’s bank balance was the first thing to break. We produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted. We built the compliance calendar for the size the business was becoming rather than the size it had been. The business reached 55 staff with no missed remittance and no late filing. $95,000 of working capital was freed in the process.
A corporation approaching a covenant test date in Kelowna, British Columbia was overpaying instalments. The cause was a healthy bank balance made up almost entirely of deposits for work not yet performed. Rebasing them returned $98,000 to the business.
A corporation approaching a covenant test date in Kelowna, British Columbia was paying instalments calculated on a prior year. That year no longer reflected the business. A healthy bank balance made up almost entirely of deposits for work not yet performed was tying up $98,000 of cash. We rebased the instalments on the current-year estimate rather than the prior-year default. Alongside that, we set a quarterly tax provision, so the instalments and the year-end balance were funded before they came due. $98,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
A 6-week rebuild at a clinic group acquiring a competitor in Ottawa, Ontario got the filing in with 19 days to spare. That avoided $107,000 in penalties.
A clinic group acquiring a competitor in Ottawa, Ontario was weeks away from the deadline for purchase and sale tax due diligence. Behind that sat a monthly report that stopped at the income statement, with no balance sheet and no cash view. The exposure if the date slipped was around $107,000. We separated customer prepayments from earned revenue in the reporting, so the cash position and the tax position were visible at the same time. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 19 days to spare. $107,000 in late-filing penalties avoided, and the working papers are ready for the following year.
A fast-growing e-commerce brand in Regina, Saskatchewan needed a holding structure. It had to deal with pricing set by feel, with no visibility into margin by service line. The reorganisation was tax-neutral and removed $41,000 of annual exposure.
The structure at a fast-growing e-commerce brand in Regina, Saskatchewan needed fixing. The file was carrying pricing set by feel, with no visibility into margin by service line. Every option for fixing it ran through a reorganisation that had to be done without triggering tax. We worked with the client's lawyer. Together, we built a rolling thirteen-week cash-flow model, tightened collections, and renegotiated supplier terms so the growth stopped consuming the bank balance. We also prepared the elections, resolutions and valuations the structure needed to stand up. The structure now matches the business. Annual saving of $41,000, and the reorganisation itself was tax-neutral.
A business whose margin varies by service line in Guelph, Ontario was preparing to sell. However, a single shareholder holding every share, with no room to multiply the exemption disqualified the shares. Purification sheltered $800,000 under the exemption.
A business whose margin varies by service line in Guelph, Ontario had an offer on the table and 21 months to close. The shares did not qualify for the capital gains exemption. A single shareholder holding every share, with no room to multiply the exemption was part of the reason. We purified the corporation so the shares met the qualifying tests. We traced each borrowing to what it actually funded and kept the interest deduction on the portion used to earn business income. All of it was done well ahead of the closing date. The sale closed on schedule with $800,000 sheltered by the lifetime capital gains exemption across the shareholders.
A distributor entering a second province in Winnipeg, Manitoba faced a $49,000 proposed reassessment. It came after a borrowing drawn for an unrelated personal purchase with the interest claimed against the business. We rebuilt the documentation and the adjustment was withdrawn in full.
A distributor entering a second province in Winnipeg, Manitoba received a proposal letter opening a review of purchase and sale tax due diligence. The CRA had identified a borrowing drawn for an unrelated personal purchase with the interest claimed against the business. It proposed an adjustment of $49,000, with 30 days to respond. We treated the response as an evidence exercise rather than an argument. We rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price. We then indexed every supporting document against the specific line the auditor had questioned. The proposed adjustment was withdrawn in full — all $49,000 of it. The file closed in 11 weeks with no change to the assessed amounts and no penalty.
Meet the specialists behind your Purchase and Sale Tax Due Diligence 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.
Purchase and Sale Tax Due Diligence 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 purchase and sale tax due diligence 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 honest answer comes down to one rule. 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. That is the part we verify before anything is filed.
Our answer starts where the legislation starts. A small corporation still carries the full compliance set: T2, GST/HST, payroll, and the annual return with the incorporating jurisdiction. The annual corporate return is separate from the T2 and is the one most often forgotten, which can lead to administrative dissolution. From there it is a matter of applying it to your year — and that application, not the rule itself, is where a tax services provider earns the fee.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
Online banking is the simplest route: add the CRA as a payee, select the account and tax year precisely, and pay from your chequing account. CRA My Payment takes debit card payments, and pre-authorised debit can be scheduled in My Account or My Business Account for a single amount or a run of instalments. Corporations and GST/HST registrants use the same channels under their business number. Keep the confirmation number and allow several days for the payment to post.
Income tax is tax charged on the income you earn in a year, levied by both the federal government and your province or territory. Rates are graduated, so successive slices of taxable income are taxed at higher rates, and credits such as the basic personal amount reduce the tax calculated. Employment income is taxed through payroll withholding and settled on your T1 return. Quebec residents also file a separate provincial return with Revenu Quebec.
Most tax saving comes from a short list of levers: contributing to an RRSP or a spousal RRSP, holding investments inside a TFSA, FHSA or RESP so growth is sheltered, claiming every deduction and credit you actually qualify for, and splitting income where the rules allow, such as pension income splitting. Business owners add expense timing and salary versus dividend planning. Order matters, so decide before year end rather than at filing time.
For the 2026 tax year, federal rates are 14% on the first $58,523 of taxable income, 20.5% from there to $117,045, 26% to $181,440, 29% to $258,482, and 33% above that. Each rate applies only to the income inside its own band, so moving into a higher bracket does not raise the tax on the income below it. Provincial or territorial tax is added on top.
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.
There is no single percentage. Canada uses graduated brackets, so the rate climbs as income climbs and each rate applies only to the income falling inside its own bracket. Your total combines a federal bracket with your province's bracket and is then reduced by credits, which is why two people on the same salary in different provinces pay different amounts. The share withheld from a paycheque also covers CPP or QPP and EI. Check the CRA bracket table for the year concerned.
Pay it the same way you remit payroll source deductions, using your payroll program account number so the money lands on the right account. Options are online banking through your bank's CRA payment option, My Business Account or the CRA's online payment service, pre-authorized debit, or a payment at a Canadian financial institution. Interest keeps accruing until the balance is cleared, so pay first and dispute afterwards if you plan to object.
When you file electronically the software returns a confirmation number, which means the CRA received the return. Acceptance is the next step: the return is assessed and a notice of assessment issued, usually about two weeks after an online filing. CRA My Account shows the return status, the notice and any refund or balance owing. If nothing appears well past that window, confirm the submission actually transmitted rather than filing a second copy.
A transmitter number identifies whoever sends information returns, such as T4 or T5 slips, to the CRA electronically. Many filers never need one, because internet file transfer accepts a web access code tied to the business number on the return. If you transmit for several businesses or use software that demands the identifier, request it through the CRA's electronic services helpdesk. Start from the CRA's pages on filing information returns electronically, which set out what each return type requires.
Yes. The CRA answers individual, business and benefit enquiries by phone, and its Contact the CRA page lists the current numbers and hours for each line. Have your social insurance number or business number, a recent return and your notice of assessment ready, because the agent will verify your identity before discussing an account. For account details, balances and slips, My Account often answers the question faster than the phone.
It goes to the person primarily responsible for the child's day-to-day care. Where care is shared roughly equally, the CRA splits it, so each parent receives half of what they would get alone, calculated on their own family net income. Tell the CRA when your marital status changes, because a stale status distorts both payments. Where the child lives mainly with one parent, only that parent is treated as the primary carer.
No. Gross income is everything you received before any deductions. Net income comes next, after amounts such as RRSP contributions, union dues, child care and employment expenses. Taxable income is the final step, after further deductions like carried-forward losses, and it is the figure the rate brackets are applied to. Credits, including the basic personal amount, then reduce the tax calculated on that figure rather than the income itself.
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)
