Corporate reorganizations involve the restructuring of assets, companies, partnerships and trusts to achieve various objectives.  While tax planning is not always the primary motivator for a reorganization, our tax team will achieve the desired results in the most tax efficient manner.  We have assisted clients in reorganizing their structures for a variety of reasons, including: 

• Tax minimization on death, sale of a business and exiting Canada
• Protection of assets from creditors
• Spin-off of business assets or divisions into new corporations
• Facilitating settlements in estate litigations, matrimonial matters and shareholder disputes
• Shareholder remuneration strategies
• Planning for a new business or joint venture

Corporations and Partnerships

Canadian corporations are taxed on their worldwide income. Due to constantly changing tax laws and regulations, it can be challenging for a company to maintain compliance. Grewal Guyatt's tax professionals have accumulated extensive experience in corporate and partnership taxation allowing them to assist in ensuring you  comply with your tax reporting obligations.

Our team of professionals can assist your company meet its provincial and federal tax obligations including preparation and filing of your corporate income tax returns, calculation of tax estimates/instalments and the filing of special elections forms. Our in-depth knowledge of Canadian tax law allows us to identify opportunities to help your organization reduce its tax burden while ensuring compliance with reporting requirements.

Individuals 

Personal tax is about more than just preparing and filing your annual tax return. Due to constantly changing tax laws, personal tax strategies for high net-worth individuals and business owners are more complex than ever. Our team is comprised of knowledgeable tax professionals who will not only help you prepare and file your personal returns, but will also help you develop a plan to minimize taxes and protect your wealth.

There are tax implications associated with Canadians conducting business or investing in the United States of America (U.S.) and vice-versa, which may give rise to tax obligations in both Canada and the U.S.. Our team of professionals are experienced in cross-border tax matters and work with our clients to ensure that their tax obligations in both jurisdictions are met. 

Individual Tax Preparation

If you are a Canadian living in the U.S., there may be a requirement to file income tax in both Canada and the U.S.. Our tax professionals are experienced in cross-border tax and have specialized knowledge on the tax treaties for each country.  We customize our approach to filing your personal taxes ensuring we thoroughly review and consider all necessary factors on a client-by-client basis. This includes assisting clients navigate complex matters such as the exclusion of earned income from U.S. taxation when you earn Canadian income.

Corporate and Partnership Tax Return Preparation

As your organization expands and engages in work within various jurisdictions, it is important to enlist/retain a team of professionals that are knowledgeable on international taxation. At Grewal Guyatt, we have the expertise to assist our clients in tax preparation for corporations that engage in cross-border transactions..

U.S. corporate tax legislation is changing rapidly and extremely complex. Our U.S. tax professionals help your company keep up to date with changes in legislation, laws and regulations. Our team assists Canadian companies with navigating the U.S. tax system by providing strategies that will help your organization comply with U.S. taxation requirements.

• A review of your existing assets and liabilities, including private company shares and corporate held assets
• Review of existing Will(s) and Power(s) of Attorney, offering recommendations as well as the implementation of dual wills when applicable
• Advising on the tax implications of transferring assets to family members, during lifetime or on death
• Strategizing to reduce probate fees
• Implementation of a corporate reorganization to “freeze” your tax liabilities based the value of your estate at current date
• Advising on insurance strategies to fund taxes on death
• Allow for the accumulation of wealth for your heirs during your lifetime while you retain control of the assets
• Advising on your remuneration plan as to how to best fund your retirement with your existing estate

• Implement post-mortem tax planning to remove liquid assets in a tax-efficient manner
• Represent estates in litigation matters
• Assist in the orderly and tax-efficient distribution of assets to heirs or beneficiaries

The mergers and acquisition (M&A) process can reward business owners and stakeholders for the success of their business or provide growth opportunities for investors. While this can be an exciting time, there are significant tax implications that must be considered. As the acquiring company, it is important that the tax values of the target company are not eroded. As the seller, it is important to maximize the after-tax proceeds to shareholders and key employees. This often involves pre-closing restructuring to achieve your tax goals.

Our tax professionals have substantial experience with the M&A process and will help you identify planning opportunities and will navigate you through the tax process. Some of the key M&A transaction services that we provide include tax due diligence, pre-closing restructuring, tax modeling, tax review of purchase or sale agreements and the filing of any special election forms.

Sales Tax, or indirect tax, is a "commodity tax" on the sale of goods and services. The Canadian indirect tax system is complex as it includes Goods and Services Tax (GST), Harmonized Sales Tax (HST) and the Provincial Sales Tax (PST), depending on the province.  While income tax issues may be top of mind for most companies, indirect tax can be overlooked.  

In reality, businesses in Canada often pay more in sales and other indirect taxes than they pay in income tax. It is important to engage with knowledgeable tax professionals to assist in navigating the complexities of indirect tax.  We assist our clients by providing advice on indirect tax implications, preparation of CRA ruling requests, indirect tax planning and more.

The Canadian Scientific Research and Experimental Development (SR&ED) program provides tax-based incentives to businesses engaged in various research and development activities.  Whether a business is engaged in developing or improving a product, technology, process, materials or devices, the SR&ED program provides access to significant tax benefits.

It is imperative to work with a team that understands the requirements of the SR&ED program, files the necessary forms and works with clients to improve the chances of a submission being approved.  Our professionals have extensive experience with and knowledge of the SR&ED program.

Our tax consulting team works with legal counsel to ensure that settlements are structured in a fashion where after-tax dollar dollars are maximized.

Dealing with a family member’s death, a matrimonial breakdown or the separation of a business partnership can be extremely stressful.  The tax professionals at Grewal Guyatt are experienced in navigating through litigation and providing support with tax filings and planning for tax-efficient settlements.  We have extensive experience dealing with counsel, trustees, executors, beneficiaries and professional trust companies.

When dealing with trusts and estates, it is important to engage the right team to guide you through the tax implications of each. Similar to individuals and businesses, estates and trusts are taxed on the income they earn. For instance, when an individual dies, income generated from the assets post-mortem is subject to taxes by the estate or trust.

The estate and trust taxation implications are complex and the tax professionals at Grewal Guyatt have studied and mastered the nuances so that we are able to effectively support our clients’ needs. We ensure that we are always up-to-date with the latest shifts in regulations so that our clients are always compliant with tax reporting requirements.