Tel: (905) 272-2727 (CPAS)

Fax: 844 654 2727 (CPAS)

Licensed Public Accountants

Taxation

Taxation laws are dynamic and ever-changing. Improvements, enhancements and changes are made almost on a year to year basis, affecting your business and personal taxes. It is imperative that you engage professionals for your taxation needs to help you navigate the complex landscape of Canadian Tax laws. At Kotamarti Group, we are well-versed in all the rules and regulations and the constantly changing laws. We strive to keep your tax filings accurate, providing you with the best possible solutions. We work with large corporations, small businesses as well as individuals. We ensure we understand you and your business and assist you with timely tax filings that are accurate and follow all the changes from year to year.

Corporate Taxation

Whether you are a small business, a large corporation, a start-up company that’s been recently incorporated, we have the expertise to help you file your taxes accurately, in a timely fashion while ensuring minimization strategies. We are always vigilant so that your tax filings are compliant with all the rules and regulations as well.
Canadian resident corporations are subject to tax on their worldwide income. All resident corporations (except tax-exempt Crown corporations, Hutterite colonies and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax payable. This includes:

  • Non-profit organizations
  • Tax-exempt corporations
  • Inactive corporations

We offer the following corporate taxation services as stand-alone or along with our accounting services:

  • Preparation and filing of T2 Tax Returns
  • Preparation and filing of HST/QST Returns
  • Preparation and filing of payroll source deductions, along with T4s and T4 summaries

We also have a vast experience in dealing with the Canada Revenue Agency (CRA). We provide the following services with respect to CRA:

  • Responding to CRA notices
  • Liaising with CRA for any audits, including corporate, payroll and HST audits
  • Registering business numbers with CRA and making any necessary changes to clients’ CRA accounts
  • Assisting in appeals and representation for fairness for individuals and corporations in matters relating to personal tax, corporate tax, payroll and HST

Sales Taxes

GST/HST/QST Registrants are entitled to claim input tax credits (ITCs) equal to the amount of sales taxes paid on purchases of goods and services against the sales collected on their sales/services. We are very knowledgeable in this area and have extensive experience assisting our clients with GST/HST/QST.
Our services include:

  • Determining whether your business is required to register for GST/HST and if so, we assist you in preparing and completing the HST return to determine whether you need to return or receive a refund.
  • Filing GST/HST returns as per required timeline with CRA
  • Filing public services bodies’ rebates for qualifying not-for-profit organizations
  • Maintaining GST/HST records and assisting with CRA audits if necessary

Individual Taxation

In most cases, each individual’s personal tax situation is unique. As required by the Canadian Income Tax Act, individuals are only required to file an income tax return if:

  • There is tax owing for any tax year
  • Capital property has been disposed of
  • Non-resident has taxable capital gains or any source of income on which tax has been withheld and remitted or tax is payable by a non-resident or if the non-resident Individual has a Home Buyer Plan balance or a Lifelong Learning Plan in a positive balance

Our personal income taxation service is tailored to each client’s needs. We assess the various credits and benefits available to that individual and entitlements based on transfers from a family member. We provide effective tax advice along with filing your income tax returns in a timely fashion. We help you maximize your tax returns as you may not be familiar with all your entitlements. We also ensure that your tax filing is accurate and compliant with the Canadian Tax regulations.

Cross-border taxation

In addition to filing Canadian income tax returns, we are also authorized to file US tax returns. We have several Canadian individuals and corporate clients that are still considered residents in the United States and have to file both American and Canadian tax returns. Our knowledge of the income tax system in these two countries is very valuable to our clients. If you need to file cross-border taxes, you can benefit from our advice that will help you effectively plan out your tax strategies and also file returns in both countries.
How we can help you:

  • Avoid double taxation in Canada and the United States by well-planned tax strategy
  • Ensure that you are compliant with both the IRS and CRA filing requirements
  • Advice on how to minimize Canadian and American personal and corporate income taxes
  • Assist you in developing a cross-border corporate structure in order to avoid a high tax bill

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About
The Kotamarti Group

Phone: (905) 272-2727 (CPAS)

Fax: 844 654 2727 (CPAS)

Email: info@kotamartigroup.com

Address: 1235 Queensway Avenue East, Unit 18A Mississauga, ON L4Y 0G4

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