Corporate Tax

Corporate Tax

KPMG’s tax professionals work with Canadian private companies to develop efficient and cost-effective strategies to reduce their overall tax burdens.

We work with Canadian private companies to help reduce their overall tax burdens.

Our private company tax professionals will keep you informed

With them, you can develop an approach to reducing your overall tax burden by:

  • Assessing the effectiveness of your business structures
  • Planning the form of receipts and expenditures to achieve enhanced tax treatment 
  • Structuring acquisitions and dispositions tax-effectively
  • Identifying available tax opportunities

Corporate tax compliance services 

Canada's complex, multi-layered, and continuously changing tax laws present a significant tax compliance challenge to private companies.

Companies ranging from growing owner-managed businesses to large private enterprises should satisfy their Canadian and where applicable, US and international tax reporting obligations efficiently and cost-effectively.

Options for private businesses

Fortunately, Canadian private businesses have many options to enhance their tax status and help lower their overall tax burdens. Our tax professionals work closely with you to examine all of your reporting requirements. This, in turn, can allow you to:

  • Enhance your business' tax accounting methods and systems, whether you report under Canadian GAAP, IFRS, or other standards
  • Enhance the benefits of tax deferral or expedite your expense claims
  • Prepare tax and information returns, tax elections, estimates, ruling requests, voluntary disclosure requests, and other correspondence with federal and provincial tax authorities
  • Respond to audit requests from federal and provincial tax authorities, and effectively manage a tax audit and related negotiations with the authorities.

You also have access to an international network of Tax professionals who can advise on any local and corporate tax requirements wherever your private company does business. As well, you can benefit from extensive industry experience to help you identify any tax issues specific to your sector.

Owner-manager compensation strategies

As the owner-manager of a private company, another essential matter to address is compensation. You want your business to be a success and you should also draw an income. The question is, how do you determine what portion of the profits will form your salary?

Structuring your compensation 

As private company advisers, we can work with you to help recommend an effective and tax-efficient approach to structuring your compensation. Strategies include:

  • Deferring income to the next calendar year by accruing bonuses
  • Enhancing capital dividend payments
  • Setting up a holding company

We can help you crunch the numbers to calculate a favourable salary/dividend mix and weigh the tax benefits of the various options to reduce your overall tax burden. 

Working together, we can help you develop an appropriate compensation strategy for your circumstances. Contact a KPMG private company advisor today.

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