Past Account Cleanup Vaughan
Unfiled T2 corporate returns, overdue HST, catch-up bookkeeping, CRA compliance letters, payroll arrears, bank reconciliation backlogs and financial statement preparation for prior years. We bring Vaughan businesses back to full CRA compliance. From $499.
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Vaughan Clients
The Arbitrary Assessment CRA Sent Your Vaughan Corporation Is Based on What They Think You Earned Not What You Actually Made
When a Vaughan corporation does not file a T2 return after CRA's demand, CRA does not wait. They estimate your income using industry averages, third-party data and whatever information they can find. A construction company that actually earned $180,000 gets assessed as if it earned $350,000. A consulting firm with $90,000 in revenue gets assessed at $200,000. CRA always estimates high. Then they apply the late-filing penalty: 5% of the inflated balance plus 1% per month for up to 12 months. Compound daily interest at 10% on the entire inflated amount. You owe the arbitrary assessment until you file the actual return. Every day you wait, the interest grows on the number CRA invented, not the number you actually earned.
We handle past account cleanup for Vaughan businesses from $499. Unfiled T2 returns filed. Overdue HST caught up with ITCs recovered. Bank reconciliation backlogs cleared. NTR financial statements for every outstanding year. CRA compliance letters answered. Penalty relief submitted. From Woodbridge to Maple, Kleinburg to Concord, Thornhill to Vellore, we bring Vaughan businesses back to full CRA compliance.
Book Free Consultation
Past Account Cleanup Services in Vaughan
Unfiled T2 Returns
Corporate tax returns for every outstanding year. Financial statements, GIFI schedules and disclosures completed.
Catch-Up Bookkeeping
Months or years of transactions categorized, bank statements matched and books brought current.
HST Cleanup and Filing
Overdue HST/GST periods calculated, filed. ITCs recovered. Instalment arrears addressed.
CRA Compliance Letters
Demands to file, arbitrary assessments, requirements to pay responded to with filed returns.
Penalty Relief Requests
RC4288 filed where eligible. Extraordinary circumstances documented for penalty cancellation.
Payroll Arrears
Unfiled T4s, missed remittances, outstanding ROEs and employer penalties corrected.
How We Clean Up Past Accounts for Vaughan Businesses
A structured 6-step process. AFFORDABLE flat-fee pricing. No hourly billing.
Assessment: What Is Outstanding
Every gap identified before we touch a single transaction.
- Review CRA My Business Account for all unfiled T2 returns, HST periods and T4/T5018 obligations.
- Check for compliance letters, arbitrary assessments, requirements to pay and active collection actions.
- Identify outstanding payroll remittances, unfiled ROEs and employer penalty assessments.
- Determine last reconciled date and catch-up scope. Fixed-fee quote before work begins.
- If CRA collection is active, file emergency hold request immediately.
Bank Reconciliation and Catch-Up Bookkeeping
The foundation. Every other filing depends on accurate books.
- Collect bank statements, credit card statements and payment records for all outstanding periods.
- Categorize every transaction in QuickBooks, Xero or your existing software.
- Reconcile bank accounts month by month to zero discrepancy.
- Identify missing invoices, deposits, loan payments, intercompany transfers and shareholder transactions.
- Clean trial balances for each fiscal year-end.
Financial Statement Preparation
CRA requires financial statements with every T2.
- NTR financial statements for each outstanding fiscal year from the clean trial balance.
- Balance Sheet, Income Statement and Notes per CPA standards.
- Retained earnings reconciled across multiple years for continuity.
- GIFI schedules mapping directly to the T2 return.
- NTR from $250/year. Included in cleanup fee for most engagements.
T2 Corporate Return Filing
Every outstanding T2 filed. Every schedule completed.
- T2 returns for each unfiled year using financial statements and GIFI data.
- Federal and Ontario tax, small business deduction, CCA and loss carryforwards calculated.
- All T2s filed electronically. Confirmation numbers retained.
- Total tax, penalties and interest calculated across all years.
- Filed in correct sequence (earliest first) for proper loss application.
HST, Payroll and Other Filings
T2 is not the only obligation.
- Overdue HST/GST returns calculated and filed. ITCs recovered where eligible.
- Overdue T4, T4A and T5018 slips filed.
- Outstanding payroll remittances submitted. Employer penalties calculated.
- Outstanding ROEs filed with Service Canada.
- Other CRA information return obligations addressed.
Penalty Relief and Payment Arrangements
Reduce what you owe. Arrange how you pay.
- Taxpayer Relief requests (RC4288) filed where extraordinary circumstances exist.
- Illness, family emergency, CRA error, advisor failure or first-time lapse documented.
- CRA payment arrangements negotiated. Typical: 12 to 24 months.
- Pre-authorized debit set up so no deadlines are missed.
- Transition to ongoing monthly bookkeeping so the backlog never recurs.
Free Past Account Cleanup Consultation
Free Past Account Cleanup Consultation
Case Studies: Past Account Cleanup in Vaughan
Construction Corp, Woodbridge (3 Years Unfiled + HST)
A construction corporation in Woodbridge had not filed T2 or HST for 3 years. CRA arbitrary assessment: $58,000. We reconciled all accounts, prepared NTR financial statements, filed 3 T2s and 12 HST periods, recovered $21,300 in ITCs. Actual tax: $14,600. Penalty relief for Year 1. Savings: $43,400. Get Started →
Manufacturing Holdco, Concord (Garnishment Averted)
A manufacturing company in Concord had 2 unfiled T2s and $43,000 in assessed HST. CRA issued a requirement to pay. We filed emergency returns in 6 days, recovered $14,800 in ITCs, showed actual balance $19,500 and negotiated withdrawal. 18-month payment plan established.
Dental Practice, Maple (Payroll + T2 Backlog)
A dental practice in Maple had 2 unfiled T2s, 2 years of unfiled T4s for 4 employees and missed remittances. CRA employer penalty: $7,800. We filed all returns, submitted remittances, filed penalty relief. Penalty reduced to $1,100. Monthly bookkeeping established. Bookkeeping Services →
Consulting Corp, Kleinburg (4 Years + Director Liability)
A consulting corporation in Kleinburg had not filed for 4 years. CRA assessed the director personally for $29,000 in unremitted HST. We filed all 4 years, showed actual HST was $13,400, filed due diligence defence and negotiated the assessment down on a 24-month plan.
What Triggers CRA Action Against Vaughan Businesses
| CRA Action | What It Means | How We Resolve It |
|---|---|---|
| Demand to File | Unfiled obligation. 90 days or arbitrary assessment. | File within the window. |
| Arbitrary Assessment | CRA estimates income. Always higher than actual. | File actual return. CRA reassesses. |
| Requirement to Pay | Sent to bank or clients. Funds frozen. | File returns. Payment arrangement. Withdrawal requested. |
| Collections and Garnishment | Bank garnished, assets seized without court order. | Emergency filing. Hold collection. Payment plan. |
| Director Liability | Directors assessed personally for unremitted HST/payroll. | File corporate returns. Due diligence defence. |
CRA Can Garnish Without Warning: For HST and payroll, CRA can freeze your Vaughan business bank account without prior notice.
CRA Penalties and Interest for Late Filing
| Filing Type | Penalty | Interest |
|---|---|---|
| T2 (first offence) | 5% + 1%/month up to 12 months | Compound daily at 10% |
| T2 (repeat) | 10% + 2%/month up to 20 months | Prior 3 years had late penalty. |
| HST/GST | 1% + 0.25%/month up to 12 months | Compound daily + instalment interest. |
| Payroll Remittances | 3% to 10% | Compound daily per period. |
| T4/T4A | $10/day per slip up to $1,000 | Triggers payroll audit. |
| Failure to File | Demand, then arbitrary assessment | Filing always better. |
What Our Past Account Cleanup Includes
| Service | What We Do |
|---|---|
| CRA account review | Identify every unfiled return, balance, letter and collection action. |
| Catch-up bookkeeping | Bank reconciliation, categorization and trial balance. |
| NTR financial statements | Balance Sheet, Income Statement, Notes. From $250/year. |
| T2 filing | All outstanding T2s filed. GIFI, losses, CCA calculated. |
| HST/GST cleanup | All overdue periods filed. ITCs recovered. |
| Payroll corrections | T4s, remittances, ROEs filed. Penalties negotiated. |
| CRA correspondence | Letters, demands, assessments responded to. |
| Penalty relief | RC4288 filed. Circumstances documented. |
| Payment arrangements | 12-24 month plans. Pre-authorized debit. |
| Transition to ongoing | Monthly bookkeeping from $150/month. HST and T2 FREE. |
Do You Need Past Account Cleanup?
- 1 or more unfiled T2 corporate tax returns
- CRA demand to file or compliance letter received
- Overdue HST/GST periods not filed
- Bookkeeping not done for 6+ months
- Bank accounts not reconciled in software
- Arbitrary assessment received from CRA
- Requirement to pay sent to bank or clients
- Unfiled T4s or missed payroll remittances
- Financial statements needed for loan, mortgage or lease
- Corporation wind-down with unfiled returns
- Director liability assessment
- CRA compliance needed for programs or licences
Past Account Cleanup from $499. Fixed Fee.
Quoted before work begins. 30-Day Money-Back Guarantee.
Why Vaughan Businesses Choose Gondaliya CPA
CRA Compliance Experts
Unfiled returns, arbitrary assessments, garnishments and director liability every week.
Fast Turnaround
2 to 6 weeks. Emergency filings available.
Fixed-Fee Quotes
No hourly. 30-Day Money-Back Guarantee.
1300+ Reviews
AFFORDABLE. 60-Day Fees-Matching.
Transparent Flat-Fee Pricing
| Service | Fee | Includes |
|---|---|---|
| Cleanup (1 year) | From $499 | Bookkeeping, NTR, T2, CRA correspondence |
| Cleanup (2 years) | From $899 | 2 years bookkeeping, 2 NTR, 2 T2s, HST |
| Cleanup (3+ years) | From $1,199 | Full multi-year. Quoted per engagement. |
| HST cleanup | From $75/period | Calculation, ITC recovery, filing. |
| Penalty relief | From $299 | RC4288, documentation, follow-up. |
| Ongoing bookkeeping | From $150/month | Monthly. HST filing, T2 FREE. |
Know Your Exact Fee Before We Start
Flat fee. 30-Day Money-Back. 60-Day Fees-Matching.
Past Account Cleanup Across Vaughan
We serve businesses in every Vaughan community. Virtual delivery across the entire city and GTA.
19 Cabinet Crescent, Woodbridge, ON L4L 6H9
Phone: 647-212-9559
Industries We Serve in Vaughan
Specialized startup tax & accounting Healthcare In Vaughan
Specialized healthcare tax & accounting Consultants In Vaughan
Specialized consulting tax & accounting Small Businesses In Vaughan
Specialized small business tax & accounting Restaurants In Vaughan
Specialized restaurant tax & accounting Franchises In Vaughan
Specialized franchise tax & accounting Self-Employed In Vaughan
Specialized self-employed tax & accounting Manufacturing In Vaughan
Specialized manufacturing tax & accounting Grocery Stores In Vaughan
Specialized grocery tax & accounting Import & Export In Vaughan
Specialized import/export tax & accounting
Frequently Asked Questions: Past Account Cleanup Vaughan
Meet Your Past Account Cleanup Specialists
Sharad Gondaliya, CPA
Founder & Managing Director
Gondaliya CPA Professional Corporation
Sharad manages all past account cleanup, CRA negotiations, penalty relief and director liability.
Vandana Goel, CPA
Senior Accountant
Gondaliya CPA Professional Corporation
Vandana handles catch-up bookkeeping, bank reconciliation, NTR financial statements and T2 filing.
What Our Clients Say
1300+ five-star reviews from business owners across Ontario and Canada.
10 Smart Past Account Cleanup Strategies That Save You Money
| # | Strategy | Why It Saves You Money |
|---|---|---|
| 1 | File the earliest year first | Loss carryforwards offset later-year income. |
| 2 | Recover unclaimed ITCs from unfiled HST | Thousands recovered when filing overdue returns. |
| 3 | File before arbitrary assessment | Avoids inflated balance and compounding interest on it. |
| 4 | Apply for penalty relief (RC4288) | $5,000 penalty cancelled = $5,000 kept. |
| 5 | Maximize CCA in every outstanding year | Vehicles, equipment, computers all eligible. |
| 6 | Claim small business deduction | SBD saves up to $30,000/year at $500K income. |
| 7 | Reconcile shareholder loans before filing | Prevents Section 15(2) taxable benefit. |
| 8 | Negotiate payment plan before collections | Prevents garnishment. Much cheaper. |
| 9 | Claim home office expenses | Rent, utilities, insurance deductible if home-based. |
| 10 | Transition to monthly bookkeeping | $150/month prevents all future penalties. |
Browse Our AFFORDABLE CPA Services
- Accounting & Bookkeeping
- Bookkeeping Services
- Bookkeeping for Small Businesses
- Catch-Up Bookkeeping
- Management Accounting
- Past Account Clean-Up
- Accounting Advisory
- Medium-Sized Business
- Cloud Accounting
- Virtual Bookkeeping
- Virtual Accounting
- AR & Invoicing
- Accounts Payable
- QuickBooks Setup
- Xero Setup
- Systems Design
- Workflow Automation
- Review Engagement
Behind on CRA Filing? We Bring Vaughan Businesses Back to Compliance.
Unfiled returns, catch-up bookkeeping, HST arrears, penalty relief, payment plans. From $499. Fixed fee.