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At Tax Filings Canada, we handle every part of your section 85 rollover 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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Need section 85 rollover assistance in Canada? Tax Filings Canada delivers the T2 return with full GIFI schedules and every provincial filing that applies for incorporated businesses and CCPCs — economical fixed fees quoted up front, and you pay only after you approve the work.
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Behind the scenes, we assemble and double-check your section 85 rollover assistance filing.
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| 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 |
A CCPC's T2 is due six months after year-end, but the balance owing is due within two months — three for many small CCPCs claiming the small business deduction. Because the fee is fixed and economical, the economics stay predictable whether your file is simple or messy.
Good section 85 rollover assistance work is mostly about sequencing: which questions to settle before which. These notes lay out the sequence a tax advisor follows on Section 85 Rollover Assistance engagements.
First, the rule that sorts straightforward files from complicated ones: Capital property of a trust can generally be distributed to a Canadian-resident capital beneficiary at the cost amount of the trust under subsection 107(2), which is why a wind-up is usually preferred to letting the twenty-one-year deemed disposition under subsection 104(4) arrive. That rollover is not available where subsection 75(2) applied to the property at any time, so the history of the trust is reviewed before anything moves.
Layer a second constraint on top and the picture sharpens: Section 84.1 applies where an individual disposes of shares of a Canadian corporation to a purchaser corporation with which the individual is not dealing at arms length, and the two corporations are connected immediately afterwards. To the extent the adjusted cost base being relied on came from a claimed capital gains exemption or from pre-1972 value, that cost is stripped out for this purpose, and what looked like a capital gain can come back as a deemed dividend. Then there is the matter of timing, which forgives very little: Dividends paid from an operating company to a connected holding company are generally deductible to the recipient under section 112, so retained cash can be moved out of the operating company without immediate tax. Refundable Part IV tax applies to dividends from a payer that is not connected, and to dividends from a connected payer to the extent the payer recovers refundable tax by paying them, so the timing of the dividend matters as much as the amount.
Think of these rules as the fixed terrain; your circumstances decide the route through it. Mapping that route is the work a tax advisor takes off your plate for section 85 rollover assistance. The smoothest files are the ones where the client arrives with these records already assembled.
We keep the commercial side simple. The fee is fixed and agreed in advance, the file is reviewed with you before filing, and you pay after the service — in that order, every time.
Providing transparent fixed pricing and high-quality Accounting Firm compliance for your section 85 rollover assistance requirements.
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Providing tailored section 85 rollover assistance 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.
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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 Section 85 Rollover Assistance tax and accounting services have helped Canadian businesses save money and stay compliant.
7 years of returns were outstanding at an investment-heavy operating company in Barrie, Ontario, on top of an investment portfolio accumulating inside the operating company, putting the qualified small business corporation tests at risk. Filing on real numbers removed $97,000 of assessed tax.
A single-shareholder operating company in Regina, Saskatchewan was carrying $127,000 of penalties and interest from a capital dividend account balance that would have been lost on dissolution had the final distribution gone ahead as planned. A relief application cancelled it.
Closing the books at an owner separating surplus assets from the operating business in Surrey, British Columbia took 11 weeks because of all future growth accruing to shares the founder already held, with no freeze in place. It now takes 7 days.
A remuneration review at a family-owned manufacturer planning succession in Vancouver, British Columbia found a trust still holding capital property with its twenty-one-year deemed disposition inside the planning horizon and saved $53,000 across the corporate and personal returns.
An incorporating sole proprietor in Kelowna, British Columbia faced a $19,000 proposed reassessment after an inter-company balance and a shareholder loan left outstanding between the corporations being merged. We rebuilt the documentation and the adjustment was withdrawn in full.
A family transfer at a three-tier corporate group in Kitchener, Ontario would have been fully taxable because of retained cash well above what the business needed to operate. Restructuring deferred $550,000.
Meet the specialists behind your Section 85 Rollover Assistance filings. Our Partners Are Alumni of the World's Top Accounting and Tax Institutions
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Direct answers to what Canadian business owners actually ask before hiring an accountant.
Section 85 Rollover 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 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 section 85 rollover 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.
Our answer starts where the legislation starts. Dividends paid from an operating company to a connected holding company are generally deductible to the recipient under section 112, so retained cash can be moved out of the operating company without immediate tax. Refundable Part IV tax applies to dividends from a payer that is not connected, and to dividends from a connected payer to the extent the payer recovers refundable tax by paying them, so the timing of the dividend matters as much as the amount. From there it is a matter of applying it to your year — and that application, not the rule itself, is where a tax professional earns the fee.
The honest answer comes down to one rule. Shares meet the qualified small business corporation tests only where, at the time of the disposition, all or substantially all of the fair market value of the assets of the corporation is used in an active business carried on primarily in Canada, and where more than half of that value met a comparable test throughout the twenty-four months before the disposition. Investments accumulating in an operating company put both tests at risk, which is a large part of what a holding structure exists to prevent. That is the part we verify before anything is filed.
The questions Canadians actually search on this topic, answered plainly. Browse every question in the Canadian tax answers directory.
HST combines the 5% federal GST with a provincial component in five participating provinces. For 2026 the combined rates are 13% in Ontario, 15% in New Brunswick, Newfoundland and Labrador, and Prince Edward Island, and 14% in Nova Scotia since 1 April 2025. Elsewhere you charge the 5% GST alone, or GST plus a separate provincial tax. The rate follows the province of supply, not where your business sits.
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.
A balance owing means the tax withheld or paid by instalments during the year came to less than the tax your return calculates. Common causes are two employers each withholding as though theirs was your only job, self-employment or gig income with nothing withheld, investment or rental income, an RRSP or RRIF withdrawal where only the base amount was held back, pension and OAS payments taken without deductions, or a benefit you have to repay.
Sign in to My Account and open the sections for filed returns and notices, where past returns, notices of assessment, slips and carry-forward amounts can be viewed, printed or saved. Without online access, ask the CRA by phone or in writing at the tax centre shown on your notice, or ask whoever prepared the return for their copy. Keep your own records six years from the end of the last tax year they relate to.
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.
The slip reporting employment insurance benefits is issued in February following the year you received them, ahead of the filing deadline. Look for it in your My Service Canada Account and in CRA My Account; a paper copy is mailed if you have not chosen electronic delivery. EI benefits are taxable, and the tax withheld at source is often less than the tax finally due, so expect a balance owing if you had other income that year.
Your obligations are to report all income, file on time, pay what you owe, and keep records that support both. For an individual that means a T1 each year, due 30 April 2026 for the 2025 tax year. Business owners add GST/HST returns once registered, payroll remittances if they have staff, a T2 for a corporation, and instalments where required. Keep records six years from the end of the last tax year they relate to.
Each spouse files a separate T1 and is taxed on their own income; there is no joint return and no married filing rate. You do report each other's net income, because the couple's combined income sets benefits such as the Canada child benefit and GST/HST credit, and it drives the spousal amount and pooled medical or donation claims. Pension income splitting, spousal RRSP contributions and prescribed-rate loans are the usual ways couples shift income legitimately.
Property tax funds municipal services: roads, water and waste collection, transit, fire and police, parks, libraries and local administration. In most provinces the bill also carries a separate education portion collected for the province's school system. None of it goes to the CRA, and it is not income tax. Property tax on the home you live in is not deductible on your T1, while property tax on a rental or a business property is a deductible expense.
Register for a business number with the CRA and add a payroll program account to it. You can do this through Business Registration Online, by phone or by mail. Set the account up before your first pay date, because remittances and T4 slips are filed under that number. Have ready the legal name, the business address, the date of your first payment to an employee and your expected remitting frequency.
Basic groceries are zero-rated, which means taxable at a nil rate, so nothing is charged on staples such as milk, bread, vegetables, meat and most unprepared food. Tax applies to what the CRA treats as outside basic groceries: restaurant and prepared meals, most snack foods, candy, carbonated and sweetened drinks, and heated or catered items. A retailer selling zero-rated groceries still claims input tax credits on its own taxable costs.
Owing money is not a criminal offence, so an unpaid balance alone does not lead to jail. The CRA collects it through interest, garnishment of wages or bank accounts, liens and offsetting benefit payments. Imprisonment only becomes possible where tax evasion or fraud is prosecuted in criminal court and a judge imposes a sentence, which follows a deliberate act such as concealing income or filing false records. Correcting a filing before the CRA contacts you generally avoids prosecution.
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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.
