TAXATION
• Individual Tax Returns
• Corporate Tax Returns
• GST/HST/PST/QST Sales Tax Report
• Corporate Tax Planning
• Personal Tax Planning
• Voluntary Disclosure Program (VDP)
• Foreign subsidiary setup
• Structuring for Business Sales & Acquisitions
• Non-resident, Departure from Canada and Returning resident’s Report
• Consulting RRSP Contribution
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There's no doubt that taxation work in Toronto can be a time-consuming and daunting task for Individuals and Business Professionals. Therefore, we provide tax advice and planning to reduce the tax burden at you confront and enhance your company’s financial performance.
We provide high-quality tax consulting and tax planning to ease tax burdens by optimizing under tax shelters. The consulting will compromise various issues and events that you will confront and help to enhance your company’s financial performance.
We help you to stay updated with the latest changes that affect your business with a mission to deliver practical yet creative solutions to your tax planning. Whether it is to deal with current conditions related to transactions, restructuring, impact due to rapid tax legislation, indirect tax compliance, or just simply managing federal and provincial corporate income and sales taxes, GTS has experience in optimizing your tax position.
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What are taxable accounting services and who needs them?It is the process of accounting for the Tax which applies to everyone including individuals, businesses, corporations, and other entities. Taxation accounting services include bookkeeping, accounting, financial statements preparation along with other services like federal or provincial tax returns, tax rebates, and refunds, forms, including tax claims research and development.
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Why it is important to have record-keeping for small businesses?Every Entrepreneur should keep track of earning and spending, goods in stocks, debt as well as collection left on business. To keep the record up to date, bookkeeping accounting is the process of distinguishing, calculating, recording, accumulating, abstracting, storing, and channelizing the information about the activities of a firm. Without balancing records, of income, spending, and asset, a business is certain to fail.
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How to make sure that my business taxes are properly executed?Accounting and taxes are closely interrelated in accounting service, so bookkeeping statement should be clear and flawless. Not all companies get an opportunity to do bookkeeping for some reason. Third party accounting services can help in reducing the cost for all activities on the company.
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How does the Federal Government of Canada support research and development?The Federal Government of Canada manages several funding, grants and incentive programs to encourage research, development and demonstration in Canada. Emissions Reduction Fund: Learn about the new funding program for eligible oil and gas companies.
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What is remittance to CRA?A amount that you send to CRA after paying taxable benefit or remuneration to a recipient.
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How can I reduce my tax bill?You can control your tax bill in several ways. By contributing to an employer-sponsored retirement plan or your own individual retirement account you can reduce your taxable income. Also, you can make a high deductible health plan through a Flexible spending account (FSA).
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What is the deadline for filing the Taxes?The deadline is April 30, the deadline for most of the Canadian employees, and June 15, if you or your partner are self-employed (but you should file and pay your bill by April 30, otherwise interest will be charged)
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What happens if I miss filing My Taxes on time?If you file your taxes after the deadline, you’ll be charged a 5%penalty of your balance owing, and 1% for each full month that your return is late, up to maximum of 12 months. For more info on penalties, you can contact us.
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How long does it take to get a Tax Return after filing the tax?For electronically filed returns, you can expect to get a refund within 2 weeks and for filing a paper return, your waiting time will be at least 8 weeks.
