Canada has a very complicated tax system. To put it in perspective: the Income Tax Act is more than 3,000 pages, about twice as long as Tolstoy’s War and Peace. It contains entire sections that define terms and is easily the largest piece of legislation in Canada. As a business owner, having someone who understands this long and complex piece of legislation is critical to the success of your business, your peace of mind and ultimately, your ability to protect your money.
It’s an unfortunate truth that the onus for complying with the Income Tax Act falls on business owners. It’s impossible for you to read and thoroughly understand the Income Tax Act without the training we’ve gone through so you need to rely on your accountant’s advice.
But not all accountants are the same—and if you get poor advice, you’re the one who’s on the hook with the regulators. Choose your accountant wisely. Ask questions about how often their clients are audited by the CRA and how much advanced education related to tax the accountant has completed.
In addition, never take tax advice from anyone who is not an experienced tax advisor. People think they know what they are talking about and sure, maybe they do. But there is no way they know Canada’s Income Tax Act and how it applies to your corporation and personal situation. Your tax consultant should be the only one you listen to when it comes to tax planning.
Achen Henderson: Your Tax Consultant
Tax consulting is part of our Unburdened and Unleashed packages for business owners who want to turbocharge their businesses while freeing themselves from unnecessary stress and anxiety. From our first meeting, our team works closely with you to understand you and your family, your business, and your industry so we can deliver customized advice and tax solutions.
We look at ways to minimize tax through strategies such as corporate reorganizations and estate and succession planning and, if applicable, we help you with cross border tax planning. We also take a look back to ensure that corporate tax has been handled correctly historically. Typically the CRA only looks back three years but there is no statute of limitations on how far it can look back for things like fraud or misrepresentation. Protecting you means ensuring that you’ve been decently taken care of in the past, so if we have concerns, we’ll take a look.
We ensure your corporation is in compliance with the way it handles things like sales taxes and transfer pricing. In fact, we handle your GST, PST, and HST so you don’t even have to worry about it.
Hand The Stress To Your Tax Advisor And Forget About It
Tax is complicated but we understand it. That’s our job. Let us handle it while you focus on your job.
You’ll always be in control. Decisions are in your hands but you’ll be making them based on high-quality information delivered by a team of knowledgeable advisors. We explain what you need to know in easy-to-understand language.