Accounting, Corporate & Personal Tax Planning and Incorporation
Based on your family composition, we advise the best corporate structure to minimize your bottom line tax bill. The best practice for tax planning begins with appropriate corporate structure.
If you’re a health professional entrepreneur (e.g. doctors, psychologist, and pharmacist) with or without partners, we can advise you an appropriate structure for your corporation including shareholding and officers with effective tax planning and in compliance with applicable college guidelines.
CRA Tax & Payroll Audits
We manage CRA tax and payroll audits by acting in a professional and businesslike manner. We will discuss with you, gather and compile all required information to support your claims/returns filed with CRA.
We provide a full range of tax services from basic compliance to advanced tax planning and reorganizations. We discuss your family structure and identify key tax planning opportunities that minimize both current and future tax liabilities.
We are dedicated to client satisfaction, and we're ready to use our knowledge and skills to make your life easier while best serving your financial needs. So whether you need help with an internal processes and controls or require assistance with filing your taxes, we're up to the challenge. For more information about our accounting services or to schedule a consultation, call us today.
Arora Professional Corporation, Chartered Professional Accountant offers bookkeeping services, corporate tax planning and income tax preparation, estate planning, CRA audits in Brampton. A good accountant can give you pertinent advice on taxes, accounting systems, corporate structuring, and estate planning. Our goal is to save your valued time and uncertainty by providing reliable, efficient and personalized business accounting and bookkeeping services. The more successful your business becomes, the more difficult it will be to keep the government's tax fingers out of your chequing account. Our team provides valuable experience, knowledge and skill to our wide variety of clients
BUSINESS ADVISORY SERVICES
Preparation of financial statements based upon client provided information. Generally compilation services…Read More…
Forecasting is a necessity when trying to effectively manage and lead a business to profitability…Read More…
We provide a full range of tax services from basic compliance to advanced tax planning and reorganizations…Read More…
Effective estate planning facilitates the orderly transfer of your assets to the next generation, provides security…Read More…
Business Advisory Services
These services can help your business to identify and find solutions for areas negatively affecting profitability…Read More…
Business Succession Planning
For business owners, providing for business continuity and succession of ownership is essential. Proper…Read More…
May 30, 2017 10:04 A.M. Ministry of Labour The Ontario government has announced its intention to introduce proposed legislation, The Fair Workplaces, Better Jobs Act, 2017. The legislative proposals include broad ranging amendments to Ontario’s Employment Standards Act and Labour Relations Act. While the province’s economy is strong and growing, the nature of work has[…]
Planning your estate matters is first and foremost about having a will. But it can also be much more. A well-thought-out estate plan ensures that your family is cared for should something happen to you, and that your money goes where you want it to. It’s an important pillar of managing your wealth. Individual requirements[…]
This attached presentation will give you quick answers to many questions relating to 2016 personal tax return and corporate tax planning. We list major changes to attached presentation, including income tax changes that have been announced but have not become law at this time. Click to view 2016pdates – 2016 Tax Updates – Rajesh Arora, CPA,[…]
When you should use a checklist for filing Income Tax Return? Answer: Every year Since tax laws change every year, it is strongly recommended to update yourself with new tax laws to maximize your tax refunds. Even a change in your family status from the previous year requires different tax planning in current year. The[…]
On October 3, 2016, the Government announced an administrative change to Canada Revenue Agency’s reporting requirements for the sale of a principal residence. When you sell your principal residence or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and[…]
Is there a minimum age for work under the Employment Standards Act, 2000? No. But there are minimum age requirements for certain industries and workplaces set by other laws. The Occupational Health and Safety Act sets the minimum ages to work as follows: 18 years of age for underground mines 16 years of age at[…]
Budget 2016 proposes tax amendments that will limit the benefits of certain corporate and partnership structures which currently allow for the small business tax rate to apply to multiple instances of $500,000 of active income. This has historically been accomplished through the use of more complex structures that use a combination of multiple corporations, partnerships[…]
Earlier this week, Finance Minister Bill Morneau introduced tax changes that were aimed primarily at foreign investors in Canadian real estate to ensure they abide by our existing tax rules. But the changes also catch many Canadian residents who, in the past, have often inadvertently escaped paying tax on their principal residences. Read More…. […]
Jointly held property can also be held in two different ways: as joint tenants or as tenants in common. Joint tenancy invokes the right of survivorship, so that on the death of one of the owners, the ownership of an asset passes in equal shares to the surviving owners. Tenants in common, on the other[…]
New rules beginning in 2017 will affect the taxation of Canadian life insurance policies. If you are considering changes to an existing policy or the purchase of permanent insurance for yourself, your family, and particularly for your business, it’s important to consider the potential benefits of taking action during 2016 in order to meet your[…]