Case Study 1
$67,000 Of Working Capital Freed From The Tax Cycle — Film Production Services Company, Quesnel
A film production services company in Quesnel, British Columbia was profitable and permanently short of cash, with sector-specific exposure the previous accountant had not seen before behind the gap. Restructuring the tax cycle freed $67,000.
A film production services company in Quesnel, British Columbia was profitable on paper and short of cash every month. Sector-specific exposure the previous accountant had not seen before explained most of the gap. We assessed and claimed BC Scientific Research and Experimental Development Tax Credit alongside the federal return and built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars. $67,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
Case Study 2
Books Rebuilt From Source, $21,000 In Unclaimed Input Tax Found — Condo Corporation Manager, Quesnel
The ledger at a condo corporation manager in Quesnel, British Columbia could not support its own filings because of provincial sales tax collected but never remitted on the separate BC return. Rebuilding it surfaced $21,000 in unclaimed input tax.
A condo corporation manager in Quesnel, British Columbia could not answer basic questions about its own numbers, because provincial sales tax collected but never remitted on the separate BC return sat between the bank statements and the ledger. We recalculated the corporate tax at the 11% combined small business rate and rebased the instalments on the current year, then documented the process so the work does not depend on any one person remembering how it was done. Records rebuilt and reconciled, $21,000 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 3
3-Week Turnaround Beat The Deadline And Saved $85,000 — E-Learning Platform, Quesnel
A 3-week rebuild at an e-learning platform in Quesnel, British Columbia got the filing in with 7 days to spare, avoiding $85,000 in penalties.
With the deadline for its bc tax and accounting file weeks away, an e-learning platform in Quesnel, British Columbia was carrying a provincial payroll levy that had never been registered for or remitted. The exposure if the date slipped was around $85,000. We assessed and claimed BC Small Business Venture Capital Tax Credit alongside the federal return. The filing went in complete rather than provisional, so there was no amended return to follow. Filed with 7 days to spare. $85,000 in late-filing penalties avoided, and the working papers are ready for the following year.
Case Study 4
Desk-Review Assessment Of $120,000 Vacated — Bakery and Cafe, Quesnel
A desk review assessed a bakery and cafe in Quesnel, British Columbia $120,000 over instalments still calculated on a year the business had long outgrown. Producing the records vacated it.
A bakery and cafe in Quesnel, British Columbia was carrying $120,000 of penalties and interest arising from instalments still calculated on a year the business had long outgrown, much of it accumulated during a period the CRA itself had delayed. We separated the federal GST and BC provincial sales tax streams, reconciled both to the sales ledger, and filed the corrected provincial returns and framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship. The assessment was vacated. $120,000 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
Case Study 5
Corporate Structure Rebuilt For $14,500 Of Annual Savings — Gallery and Art Dealer, Quesnel
The structure at a gallery and art dealer in Quesnel, 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 $14,500 a year.
The structure at a gallery and art dealer in Quesnel, 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. $14,500 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
Case Study 6
$104,000 Of Arbitrary Assessments Vacated After 4 Years — Mortgage Brokerage, Quesnel
The CRA had assessed a mortgage brokerage in Quesnel, British Columbia on estimates across 4 unfiled years. Real filings vacated $104,000 of that tax.
4 years of unfiled returns had turned into notional assessments at a mortgage brokerage in Quesnel, British Columbia, with sector-specific exposure the previous accountant had not seen before underneath. Collections had already started. We assessed and claimed BC Scientific Research and Experimental Development Tax Credit alongside the federal return, then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly. All 4 years were accepted as filed. $104,000 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 4 years.