Case Study 1
Books Rebuilt From Source, $7,600 In Unclaimed Input Tax Found — Fintech Startup, Greenwood
The ledger at a fintech startup in Greenwood, British Columbia could not support its own filings because of instalments still calculated on a year the business had long outgrown. Rebuilding it surfaced $7,600 in unclaimed input tax.
A fintech startup in Greenwood, British Columbia could not answer basic questions about its own numbers, because instalments still calculated on a year the business had long outgrown sat between the bank statements and the ledger. We separated the federal GST and BC provincial sales tax streams, reconciled both to the sales ledger, and filed the corrected provincial returns, then documented the process so the work does not depend on any one person remembering how it was done. Records rebuilt and reconciled, $7,600 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 2
$43,000 Cut From The Annual Tax Bill — Cybersecurity Firm, Greenwood
A cybersecurity firm in Greenwood, British Columbia was filing correctly and still overpaying because of a provincial payroll levy that had never been registered for or remitted. Restructuring the position cut $43,000 from the annual bill.
A cybersecurity firm in Greenwood, British Columbia was compliant but paying more than it needed to. The prior year had been filed correctly and still left a provincial payroll levy that had never been registered for or remitted on the table. We modelled the current position against the alternatives before changing anything, then assessed and claimed BC Small Business Venture Capital Tax Credit alongside the federal return. The change saved $43,000 in the first year and repeats annually. Nothing about the filings became more aggressive; the position is simply the one the rules already allowed.
Case Study 3
Audit Defence Closed In 4 Weeks, $104,000 Cleared — Data Analytics Consultancy, Greenwood
A data analytics consultancy in Greenwood, British Columbia was under review over provincial sales tax collected but never remitted on the separate BC return. The file closed in 4 weeks with $104,000 of proposed tax cleared.
A data analytics consultancy in Greenwood, British Columbia was selected for review after provincial sales tax collected but never remitted on the separate BC return showed up in the CRA's automated matching. The proposed adjustment on its bc tax and accounting file came to $104,000. We recalculated the corporate tax at the 11% combined small business rate and rebased the instalments on the current year. Every figure in the response traced to a source record the auditor could verify without asking a second question. The review closed with no change. $104,000 of proposed tax came off the table, and the documentation now in place makes the next review a short one.
Case Study 4
Intergenerational Transfer Completed With $475,000 Deferred — IT Managed-Services Provider, Greenwood
A family transfer at an IT managed-services provider in Greenwood, British Columbia would have been fully taxable because of retained cash well above what the business needed to operate. Restructuring deferred $475,000.
A generational transfer at an IT managed-services provider in Greenwood, British Columbia had been discussed for years without a plan. Retained cash well above what the business needed to operate meant the transfer as contemplated would have been fully taxable. We assessed and claimed BC Scientific Research and Experimental Development Tax Credit alongside the federal return, sequencing the steps so each one was complete and documented before the next depended on it. $475,000 of tax was deferred through the transfer, and the successor generation took over a corporation whose records stood up to review.
Case Study 5
Corporate Structure Rebuilt For $44,000 Of Annual Savings — B2B SaaS Company, Greenwood
The structure at a B2B SaaS company in Greenwood, British Columbia no longer fitted the business, and input tax credits claimed against BC provincial tax, which is not recoverable the way GST is showed it. Rebuilding it saves $44,000 a year.
The structure at a B2B SaaS company in Greenwood, British Columbia had been set up years earlier for a business that no longer existed, and input tax credits claimed against BC provincial tax, which is not recoverable the way GST is had become expensive. We registered the provincial payroll account, caught up the outstanding remittances, and applied for relief on the penalty. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself. $44,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
Case Study 6
8-Week Turnaround Beat The Deadline And Saved $60,000 — Mortgage Brokerage, Greenwood
A 8-week rebuild at a mortgage brokerage in Greenwood, British Columbia got the filing in with 16 days to spare, avoiding $60,000 in penalties.
With the deadline for its bc tax and accounting file weeks away, a mortgage brokerage in Greenwood, British Columbia was carrying instalments still calculated on a year the business had long outgrown. The exposure if the date slipped was around $60,000. We separated the federal GST and BC provincial sales tax streams, reconciled both to the sales ledger, and filed the corrected provincial returns. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 16 days to spare. $60,000 in late-filing penalties avoided, and the working papers are ready for the following year.