Qualified Employees
Our team consists of qualified and experienced accountants.
Free Consultations
Our acquaintance with a client always begins with a free consultation to find out possible solutions to their problems.
100% Guaranteed
All results that you get from us are 100% guaranteed to bring you to a whole new level of profitability and financial success.
GST/HST Housing Rebate
In addition to a first-time homebuyer credit and land transfer tax exemption, you may be eligible to receive the GST/HST New Housing Rebate when considering your new home. An eligible new Homebuyer can claim a rebate for 36% of the federal portion (5%) of the HST or 1.8% of the price of a home. Where the cost of the house is more than $350,000, but less than $450,000, the rebate for the federal portion is gradually phased out on a straight-line basis. No rebate is applicable for the house with a purchase price of $450,000 or over. In Ontario, an eligible new Homebuyer can also claim a rebate for 75% of the provincial portion (8%) of the HST on all homes with the total purchase price more than $450,000. The maximum rebate is $24,000.
If you’ve done any of the lists below within two preceding years, you may be able to claim the rebate.
Purchased a newly constructed home or a new condo (houses purchased from builders)
Contracted someone to build, rebuild, or substantially renovate your home
Purchased a rental property
Houses Purchased from Builders
If you purchased your home from a developer, you may request the developer to claim the rebate on behalf of you. The rebate, then, will be applied to reduce the purchase price. The developer must submit form GST190, GST/HST (New Housing Rebate Application for Houses Purchased from a Builder). The developer typically requires purchasers to swear a Statutory Declaration that the purchaser will be residing at the property on final closing. If the developer did not apply for the credit for any reason, you may do so by submitting the same form within two years of purchase.
Substantially Renovated Houses
If you contracted someone to build or substantially renovate your house, you need to complete the Form GST191. For instance, if you purchased the land and contract your own architect and builder for a customized home, you can apply for the rebate within two years of the completion of construction.New Residential Rental Property Rebate
If you purchased a new home as a rental property, you must file a New Residential Rental Property Rebate (NRRP). You will be required to attach a one-year residential lease agreement to substantiate your claim. CRA clawbacks the rebate if you dispose of the property within 12 months after closing. Please note the builder cannot make an application on behalf of you, and you will need to make an application within two years of the closing. It usually takes three months to process the form.Occupancy Issues
All co-owners of the new house must be related and must occupy the home collectively on closing. Example 1) A friend of a home buyer agreed to put his/her name on the title (co-owner) to help the buyer obtain a mortgage. The co-owner (the friend) was not related to the purchaser. Accordingly, CRA denied the rebate. Example 2) A couple jointly bought a new home, and one of them left the house due to the breakdown of a relationship. Subsequently, the rebate was subject to clawback as co-owners did not occupy the home collectively. Please note only persons who can be co-owners are a spouse or common-law partner, brother, sister, mother, father, grandchild and grandparent but excludes an aunt, uncle, cousin, nephew, niece and friend.
Client Benefits
CUSTOMER SERVICE GUARANTEE
When you retain a Chartered Professional Accountant, you expect them not only to provide tax and accounting expertise but also to get your questions answered promptly. We guarantee that all enquiries will be responded to in a clear and friendly manner - without delay.
VALUABLE EXPERIENCE
We have over a decade of tax and accounting experience in our firm, across various industries. As our valued client, you will have the opportunity to leverage all of our knowledge and expertise to suit your needs.
ALWAYS ON TIME
We all know that deadlines are critical for your CRA filings. We also know that penalties and interest can be quite substantial when deadlines are missed. Therefore, we guarantee that we always deliver our tax services on-time while maintaining the quality of service.
Services
Corporate Tax
We offer corporate tax return (T2) preparation, using innovative tax planning to ensure taxes are minimized for our corporate tax clients.
Financial Statements
We understand that you need more than financial statements and tax preparation service to operate your business. You will enjoy the benefit of access to financial advisory services.
Personal Tax
We can provide individual tax return (T1) preparation services for employment, self-employment, and investment incomes
Buying & Selling
We provide estate planning services to guide you and your family through the process. We will provide a plan that accomodate your needs and ensure that the value of the estate is maximized.
Incorporation
Incorporating your business can help lower your taxes benefits and protect you and your family assets. We can provide expert advice on all related matters.
SR&ED
The Canadian government offers a tax incentive program to companies who advance technologies, known as Scientific Research and Experimental Development program.
U.S. Tax
Whether you are living, working, or investing on either side of the border, we can assist you to understand your tax obligations and devise a plan that saves your hard earned dollars.
Estate Tax
We will prepare your trust tax returns and help devise a plan that works for you.
Industry
Doctors
We strive to provide our clients with the highest level of service to meet their tax needs. Whether you are a sole proprietor, a member of a partnership or have an existing Professional Corporation, we can help you understand your tax obligations.
Small Businessess
Small business services are our specialty. We understand that the needs of each business owner are different and we provide tailored services accordingly.
Startups
As a startup founder, it may feel like you have the entire world on your shoulders. We can guide you from managing day to day operations, to planning on your long-term strategy.
Consultants
Many consultants and service providers go independent for tax savings. We will help you understand from writing off all their expenses, to living the good life.
