Taxation
T1 Personal Tax Returns
As a Canadian resident who earns income, we are all required to file a T1 personal income tax return annually. Synergy CPA’s prepares a variety of tax returns every year from the simplest to the more complex. We deal with investment income, business schedules, rental properties, farming operations, foreign income verification and anything else that must be reported. We also work with you to determine if there are deductions that can be claimed such as medical, donations, and childcare credits to name a few. Our goal is to prepare personal tax returns with accuracy and to ensure our clients are paying the correct amount of tax or receiving a refund. Each return that is prepared is subject to a second review by one of our senior technicians or accountants and is filed once the applicable forms have been signed by our clients.
T2 Corporate Tax Returns
Corporations must file a T2 corporate income tax return no later than six months after the corporation’s year-end. Synergy CPA’s has a wide range of clients that all require returns to be filed at different times of the year. For the majority of CCPC’s the tax payment deadline is three months so we will work with you to try to meet that deadline depending on when the information is received. There are various factors that go into each corporate tax return and can offer planning strategies that can help our clients in reducing tax liability. Each return that is prepared is subject to a second review by one of our senior technicians or accountants and is filed once the applicable forms have been signed by our clients.
T3 Estate & Terminal Tax Returns
As an Executor, administering an Estate or Trust can be difficult at the best of times. At Synergy CPA’s we can help you file the applicable tax returns (final personal tax returns, estate tax returns, and trust returns), and request clearance certificates if needed. We have specialized accountants who have in-depth expertise in this area that work alongside clients to assist and ensure compliance during those challenging times.
GST Preparation & Filing
Many of our clients are responsible for collecting and submitting sales taxes (GST/HST) including both personal business and corporations. Synergy CPA’s can assist you in the compilation of information provided and preparation of sales tax returns if you are a monthly, quarterly, or annual filer.
CRA Review & Audit Assistance
If you receive a CRA audit or tax dispute, our experienced team at Synergy CPA’s will represent your company’s interests with the applicable tax authorities, providing expert guidance and advocacy each step of the way. It is important to note that records must be kept for up to 7 years in the event of a CRA audit or review as they have the ability to go back this far.