Individual Income Tax & Benefit Return
TME offers full-service support in the preparation and electronic submission of T1 returns, including:
- Preparation and filing of current and prior-year T1 return
- Review of income sources and deductions to ensure accuracy
- Identification and application of all eligible tax credits
- CRA correspondence support and Notice of Assessment review
- Post-filing adjustments and voluntary disclosures, where applicable
Specialized services for:
- Self-employed individuals and sole proprietors
- Rental property owners
- Investors and individuals with capital gains
- Newcomers to Canada
- Non-residents with Canadian-source income
- Individuals with foreign assets or income reporting obligations
Corporate Tax
Whether you’re operating a small business or managing a larger corporation, we ensure your T2 Corporate Income Tax Return is filed accurately and on time, with all eligible deductions, credits, and tax planning strategies applied, particularly:
- Preparation and filing of T2 Corporate Income Tax Return
- Calculation of taxes payable (federal and provincial/territorial)
- Identification and application of available tax credits and deductions
- Preparation of supporting schedules and GIFI (General Index of Financial Information / Financial Statements)
- Integration with your personal tax planning (where applicable)
- Communication and representation with CRA in case of audits or queries
Our tax experts advise you on:
- Small Business Deduction (SBD)
- Capital Cost Allowance (CCA) claims
- Associated corporations and tax rates
- Taxable capital thresholds
- Non-deductible expenses under the Income Tax Act
- Carrying forward or back of non-capital and net capital losses
Sales Tax Compliance
As a business operating in Canada, it’s essential to comply with federal and provincial sales tax obligations.
TME specializes in helping corporations, sole proprietors, and partnerships accurately prepare and file their Goods and Services Tax (GST) and/or Harmonized Sales Tax (HST) returns in accordance with Canada Revenue Agency (CRA) requirements.
We provide comprehensive GST/HST services designed to ensure your business remains compliant:
Managing Tax Slips
Whether you’re an employer, a pension plan administrator, a business owner, or a non-profit organization, it is your responsibility to prepare and distribute the appropriate tax slips to recipients and submit them to the CRA on time.
Our team ensures your compliance with all current tax laws and reporting requirements.
Our Services Include:
- Data validation and reconciliation
- Recipient copy distribution (electronic or paper)
- CRA submission via Internet File Transfer or Web Forms
- Preparation of summaries (T4 Summary, T5 Summary, etc.)
- Amended slip preparation and resubmission, if necessary
TME Prepares the Following Tax Slips:
CRA Audit, Review & Dispute Resolution
Dealing with the Canada Revenue Agency (CRA) can be a complex and time-sensitive process, especially during an audit, review, or when a dispute arises.
TME specializes in navigating the Canadian tax system and representing individuals and businesses at every stage of CRA approach.
The CRA may conduct audits to ensure that taxpayers are accurately reporting income, expenses, and other tax-related information.
Audits can range from simple requests for documents to comprehensive reviews of your financial records.
We assist with:
- Preparing and organizing documentation requested by CRA
- Communicating with CRA auditors on your behalf
- Identifying and resolving discrepancies before they escalate
- Minimizing financial and compliance risks
Common audit triggers include:
- Large or unusual deductions
- Unreported income
- Industry benchmarks or red flags
- Frequent losses in self-employment or rental activities
Our goal is to ensure that your rights are protected, your compliance obligations are met, and any CRA inquiries are handled with confidence.
CRA Reviews
A review is not an audit, but still requires careful attention. The CRA may request additional information to verify a claim on your tax return, such as:
- Medical expenses
- Childcare deductions
- Employment expenses
- Tuition credits
Failure to respond or provide appropriate documentation may result in reassessments and penalties.
We support you by:
- Preparing accurate responses to CRA letters
- Reviewing your original filings for potential issues
- Liaising with CRA to avoid miscommunication
Dispute Resolution & Objections
If you disagree with a CRA assessment or reassessment, you have the right to file a formal objection.
Time limits are critical; most objections must be filed within 90 days of the date on your notice of assessment.
Our dispute resolution services include:
- Preparing and filing Notices of Objection
- Gathering supporting documentation and legal grounds
- Communicating with CRA Appeals Officers
We work to resolve disputes efficiently and fairly, leveraging our expertise in tax legislation, administrative policy, and CRA procedures.
Tax Due Diligence
TME provides Tax Due Diligence services that follow best tax practices and CRA guidelines.
Whether you’re involved in a merger, acquisition, restructuring, or investment, tax due diligence is a critical step in identifying risks, uncovering tax liabilities, and ensuring full tax compliance.
Tax due diligence is the comprehensive review and assessment of a corporation’s historical and current tax compliance, positions, and exposures.
It is typically performed during corporate transactions to ensure the tax affairs of the target entity are accurate, complete, and aligned with Canada Revenue Agency (CRA) standards.
Our process involves a detailed examination of federal and provincial tax filings, remittances, and correspondence with the CRA, focusing on areas that may present risk or require adjustment.
Common Scenarios Where Tax Due Diligence is Crucial:
- Mergers and Acquisitions
- Corporate Restructuring
- Private Equity or Venture Capital Investments
- Shareholder Buyouts
- CRA Audit Preparation
Our Due Diligence Review Includes (but not limited to):
Cross-Border Tax
As cross-border activity increases, so does the complexity of tax compliance. Whether you are a Canadian resident earning income abroad, holding foreign property, or relocating internationally, it’s essential to ensure that your tax obligations are met in accordance with Canada Revenue Agency (CRA) requirements.
At TME, we offer professional guidance on international tax matters to help you remain compliant while minimizing tax exposure.
You may need cross-border tax services if you:
- Are a Canadian tax resident with foreign income or investments
- Own real estate, shares, or financial assets located outside of Canada
- Are moving to or from Canada (immigration/emigration)
- Receive foreign pensions, dividends, interest, or capital gains
- Have foreign business operations or interests in international corporations
- Work remotely or temporarily outside Canada
- Canadian T1 personal tax return preparation with foreign income reporting
- Completion of Form T1135 – Foreign Income Verification Statement
- Application of foreign tax credits to avoid double taxation
- Reporting of foreign pensions, mutual funds, and rental properties
- Departure tax planning and filing for individuals leaving Canada
- Residency status analysis under the Income Tax Act and tax treaties
- Tax planning for Canadian-controlled private corporations (CCPCs) with foreign operations
- Guidance on permanent establishment rules and withholding taxes
- Structuring for foreign subsidiaries, branches
- Compliance with international information reporting requirements
- Tax implications of non-resident ownership or shareholders
- Interpretation of Canada’s tax treaties
- Structuring of investments and business assets to reduce tax liability
- Coordination with foreign tax advisors to ensure global compliance