Residential Property Flipping Rule in Canada
The Residential Property Flipping Rule is a new tax measure introduced by the Canadian...
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780-667-5250Our website address is: https://bomcas.ca.
BOMCAS LTD, BOMCAS CANADA, BOMCAS MEDIA, BOMCAS
9227 111 AVE NW. Edmonton, Alberta T5G 0A2
We appreciate the opportunity to work with you and advise you on income tax matters. Canada Revenue Agency (CRA) impose penalties upon taxpayers, and upon us as tax return preparers, for failure to observe due care in reporting on your income tax returns. In order to ensure an understanding of our mutual responsibilities, we ask all clients for whom we prepare tax returns to confirm the following arrangements.
We will prepare your corporate tax, personal income tax return, GST, HST,PST and QST based on information that you provide to us. We will not audit or otherwise verify the data you submit, although we may ask you for clarification of some of the information.
It is our responsibility to prepare your tax return correctly according to the law and the information that you have provided. It is your responsibility to provide us with all the information required to prepare complete and accurate returns. You should retain all the documents, cancelled cheques and other data that form the basis of your income and deductions. These may be necessary to prove the accuracy and completeness of the return to CRA. You have the final responsibility for the income tax return and, therefore, you should review it carefully before you sign OR accept it.
You provide us BOMCAS LTD, your Canada Virtual Personal Income Tax Accounting Firm with your tax forms and documentation, and our tax experts Professional Accountants will take it from there. They’ll ensure everything is in order, prepare, review everything with you, and then file your taxes for you. You get to sit back and relax, knowing your taxes are in expert hands.
By signing or accepting in anyway or form or intent to continue with us, you agree that you will provide us BOMCAS with accurate and complete information necessary to prepare your tax return(s). This includes informing us of all interests you held in foreign properties with an aggregate cost in excess of $100,000 at any time in the year, as well as all income from any foreign properties regardless of their aggregate value and all income and transactions relating to non-resident trusts.
The law imposes various penalties when taxpayers understate their tax liability. If you would like information on the amount or circumstances of these penalties, please contact us or email us at info@bomcas.ca or visit our website at www.bomcas.ca
Our business respects the privacy of personal information, that is, information that identifies you as an individual, organization or company or firm, or that is associated with such identifying information. By engaging our services, you agree to provide personal information or all information necessary for us to meet your service requests.
Before you provide us with any personal information on behalf of others, you agree that you will have obtained consent for collecting, using, and disclosing this information, according to privacy legislation.
We want you to know that we will not rent, sell, or otherwise make your personal information, including contact information, available to any third-party without your permission. We use your information to complete your service requests, to inform you of changes in our business or service offerings, and to maintain our professional correspondence with you. We follow rigorous privacy practices. We invite you to contact our office if you would like additional information about anything mention above that you may to be clear or understand.
To change your contact information or to let us know if there are any types of correspondence you do not wish to receive from our office, please contact us.
CRA may select your return for review. Often, they request copies of your receipts and other times they may require a full audit. Any adjustments proposed by CRA are subject to certain rights of appeal. In the event of such tax examinations, we will be available upon request to represent you.
Our fee for services is based on our fee schedule plus out-of-pocket expenses. All invoices are due and payable upon presentation.
Please feel free to call us with any questions or concerns at (780) 667-5250. Thank you for your trust in our business.
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