Our Services - Tax

Tax Audit & Appeal is our specialty. We correspond with the Canadian Revenue Agency (CRA) on your behalf to ensure that you get the best outcome possible. We represent you regarding appeals and compliance issues with CRA officers, who are usually professional accountants and prefer to deal with CPA professionals.

We provide you with fair, logical, and reasonable advice in dealing with appeals and reduce your stress considerably.

Appeals may include:

• Objections and Appeals if you disagree with CRA on your tax matters
• Notices of Objection for Individuals and Corporations for those who disagree with CRA tax assessments
• Late Filing of Corporation & Personal Tax Returns if you have not filed them on time. It does not matter how long you have been negligent in filing them.
• Fairness Legislation Letters that may waive interest and/or penalties applied by CRA
• Collection of disputed amounts
• Other complaints and disputes

We assist individuals and families with a complete range of tax services and financial planning. We prepare personal tax returns, offer personal tax planning, prepare net worth statements and assist in your interactions with banks, mortgage companies and other financial institutions.

We also have access to licensed experts in areas like legal or insurance, and work in collaboration or by referring clients to specialists.

We can represent clients in dealing with income tax audits posed by the income tax authorities.

In cooperation with lawyers, life insurance agents and trust officers, we provide estate planning services. This collaborative method assures our clients of the best over-all estate and tax planning. We prepare estate tax returns together with estate financial statements, always working closely with executors and other financial advisors.

We offer advices to you, as an owner-manager, to plan your business taxes and personal taxes together so that you can minimize overall taxes and achieve optimal mix between the two. 

We also help you get the most out of tax saving opportunities by developing effective tax strategies that take you, your business and of your choice, your family into account. 

We show you how to raise capital in the most tax effective way, design remuneration to favor lower taxes, establish shareholder agreements and help you plan an exit strategy that will ensure you have all the capital gains exemptions available if you decide to transfer or sell your business. 

Apart from preparing clients’ corporate tax files, we can also help you in income tax ruling requests, and advises on how to minimize taxes through tax deferral, improved tax accounting and other methods of structuring business affairs to gain the best possible tax advantages. 

We may also recommend a corporate reorganization, which may help you achieve objectives such as creditor-proofing, assets transfer to or from a business entity or individual on a tax deferral basis. We can also help clients restructure corporate share capital for either income tax or estate-planning purposes. 

When your business faces government audits, our experienced in-house staff can help you resolve audit issues posed by the tax authorities.

Your company may qualify to claim the government Scientific Research and Experimental Development (SR & ED) Program tax credits if you:

• develop new products, new process, prototype
• create custom machinery or use new materials
• create innovative software, e-business solutions, web-based applications

Successful filing of eligible SR & ED claims will keep more money in your business. At Paul Chan Professional Corporation, we will assist you to file the SR & ED claims. Our professional team consists of ex-Revenue Canada SR & ED senior auditor and professional engineers. Getting assistance from us for the process saves you time, alleviates hassles, and keeps you focused on your core business issues.