Tax Accountant for Venture Capital Firms in Ontario and Across Canada
We run the fund, not just the return. We keep a capital account for every limited partner, post every capital call, allocation and distribution against it, and build the adjusted cost base that ITA paragraphs 53(1)(e) and 53(2)(c) require, so a negative balance and its deemed gain under ITA subsection 40(3.1) is caught before CRA finds it. We prepare the T5013 partnership information return and every partner slip, compute the at-risk amount that caps a limited partner’s loss under ITA subsection 96(2.1), mark illiquid positions at a fair value an auditor can actually test, and read your distribution waterfall against the agreement that created it. Whether you run a seed fund, a micro fund, a sector fund or a first-time vehicle, we handle the fund, the general partner corporation and the management company — with AFFORDABLE flat fees.
AFFORDABLE Venture Capital Firm Tax Accountant
A venture capital firm is not an investor with a bigger cheque book. It is a limited partnership holding other people’s committed capital, and the fund itself is the accounting problem. The money does not arrive once; it arrives by capital call over several years against commitments that sit uncalled on a schedule nobody puts on the balance sheet. The management fee is charged from the first close, years before a single gain exists, which is why the early years of a fund report a loss by design. Every dollar of income and every dollar of loss has to be computed at the partnership level and allocated out to each limited partner on a T5013 slip, and that allocation only works if somebody has kept a capital account per partner since the first close. Most have not. When contributions, allocated income, allocated losses and distributions are never posted, adjusted cost base cannot be computed, the at-risk cap in ITA subsection 96(2.1) cannot be tested, and a negative balance quietly becomes a deemed capital gain under ITA subsection 40(3.1) that nobody reports. At Gondaliya CPA, we specialize in fund accounting, partner allocations and portfolio valuation for venture capital firms, providing AFFORDABLE flat-fee support that keeps you CRA-compliant and stops you paying more tax than you owe.
As a venture capital firms accountant, we work with seed stage funds, micro venture funds, sector-focused funds and corporate venture arms across Ontario, with year-round support rather than a once-a-year scramble. We handle the fund, the general partner corporation and the management company as the three entities they actually are, and we give your limited partners reporting that agrees with your financial statements.
Let us handle the fund so you can focus on the deals and the founders.
Our Official Partners
Accounting That Understands How a Venture Capital Firm Actually Works
A fund carries financial pressures an individual investor never faces. Capital arrives in drawdowns instead of one subscription, the management fee runs years ahead of any gain, every dollar of income has to be allocated out to named limited partners on a slip, and the assets you hold have no market price at all. At Gondaliya CPA, we understand that reality and provide practical, fund-focused solutions across Ontario.
Stay Compliant and Minimize Your Venture Capital Firm Tax
For a venture capital firm, keeping the partnership onside with CRA and paying the least legal tax across the fund, the general partner corporation and the management company are the same job. We keep every filing on schedule while claiming every dollar the T5013 and the T2 allow, so nothing is missed and nothing invites a reassessment.
Accounting & Tax Experts for Venture Capital Firms
- AFFORDABLE + Fully Registered CPA Firm
- Business and Corporate Tax Expert
- Small & Medium Business Expert
- Accounting, bookkeeping, and tax filing
- Certified CPA
- 1300+ 5-star Google reviews
- 30-Day Money-Back Guarantee
- 60-Day Fees Matching Policy
Why Choose Our Accounting Services for Venture Capital Firms?
Tax Planning — ACB, At-Risk & the CDA
We track adjusted cost base under ITA paragraphs 53(1)(e) and 53(2)(c), compute the at-risk amount under ITA subsection 96(2.2), and move gains out of a corporate partner through the capital dividend account on Form T2054.
Consulting — Waterfall, Carry & Capital Calls
We map your return of capital, preferred return, general partner catch-up and carry split onto real allocations, model the drawdown schedule against uncalled commitments, and read the agreement rather than assume it.
CRA Representation — Partnership Audits
When CRA challenges a partner allocation, an at-risk claim or a negative cost base, we produce the working papers and pursue relief on Form RC4288 where a prior adviser’s omission caused the penalties.
Bookkeeping — Fund Reporting & Fundraising
We produce the capital account statements and fair value notes your limited partners read, the compiled statements your bank reads, and the clean track record the next fund’s data room needs.
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Venture Capital Clients
Venture Capital Firm Tax and Accounting Services in Ontario
Partnership and Corporate Tax Filing (T5013 and T2) for Venture Capital Firms
T5013 preparation with a slip for every limited partner, plus the general partner corporation and management company T2 returns, filed on time.
Fund Accounting & Bookkeeping for Venture Capital Firms
A capital account per limited partner, every call and distribution posted, adjusted cost base by round, and financial statements from clean records.
Capital Account & Cost Base Cleanup for Venture Capital Firms
Rebuilt partner capital accounts, adjusted cost base restated from the first close, at-risk computations prepared, and negative balances found before CRA does.
GST/HST Filing for Venture Capital Firms
AFFORDABLE HST filing with the management fee analysed against what is actually supplied, and input tax credits claimed only where they belong.
Tax Planning for Venture Capital Firms
Waterfall and carried interest mapped to real allocations, the capital dividend account computed, and the exit planned years before the term sheet.
Partnership Catch-Up Filing for Venture Capital Firms
File overdue T5013 and T2 years, rebuild the missing capital accounts and allocations, and get back into CRA compliance with accurate catch-up support.
CRA Audit Resolution for Venture Capital Firms
Expert support on at-risk challenges, allocation reviews, negative cost base and fair value queries, handled with confidence from the first letter.
CPA Financial Statements (Notice to Reader) for Venture Capital Firms
CSRS 4200 compiled statements your bank accepts, with fair value support that stands up when an auditor or a reviewer tests the estimate.
Incorporation & Fund Structure Setup for Venture Capital Firms
General partner corporation and management company incorporated, chart of accounts and waterfall model built, and CRA program accounts opened before the first close.
Catch-Up Bookkeeping Services for Venture Capital Firms
Years of capital calls, distributions, follow-on rounds and expense allocations reconstructed and reconciled, so your partner capital accounts are finally accurate.
US Corporation & LLC Tax Filing for Venture Capital Firms
Cross-border filing on US portfolio holdings and non-resident partners, covering Form T1135, withholding questions and the coordination US principals need.
Voluntary Disclosure Program for Venture Capital Firms
Come forward on unfiled T5013 returns, unreported deemed gains or HST on the wrong side of the line, cancelling penalties through a Voluntary Disclosures Program application.
Accounting & Tax Services Tailored for Venture Capital Firms
Real, practitioner-level CPA expertise for seed stage funds, micro venture funds, sector-focused funds and corporate venture arms across Ontario — built for a limited partnership that holds other people’s committed capital in assets with no market price.
- We prepare the fund’s T5013 partnership information return with the T5013 FIN financial return and GIFI on Schedule 100 and Schedule 125, so management fees, realized gains and portfolio write-offs reach CRA on the lines its matching reads.
- We complete T5013 SCH 1 to reconcile accounting income to net income for tax purposes, backing out the unrealized fair value movement that drives your limited partner report but is not a taxable amount in any year.
- We file a T5013 slip for every limited partner showing that partner’s share of income, loss, capital gains and carrying charges, because a partner cannot file a correct T1 or T2 until your slip is right.
- We file the partnership return on time, because the late-filing penalty runs at $25 per day to a maximum of $2,500 and every limited partner is left waiting on a slip their own return cannot be completed without.
- We prepare the general partner corporation’s and the management company’s T2 returns, keeping management fee revenue on active business lines so the $500,000 small business deduction under ITA section 125 is not quietly lost.
- We maintain a capital account for every limited partner in Juniper Square or Allvue, posting each capital call, allocated income, allocated loss and distribution, because that ledger is the only place adjusted cost base can come from.
- We track each capital commitment against cumulative drawdowns so you know exactly what remains uncalled, which is the number a subscription lender underwrites and the number an institutional limited partner asks for every quarter.
- We carry each portfolio position at adjusted cost base by round in Carta, separating the seed cheque from the follow-on so a partial exit or a secondary is measured against the right cost rather than a blended average.
- We record the management fee, fund administration charges and diligence costs against the fund or the management company exactly as the limited partnership agreement allocates them, so the J-curve your limited partners see matches the ledger.
- We capture legal, diligence, travel and software invoices through Dext and reconcile monthly, keeping the six years of records ITA section 230 requires and handing your auditor a file that does not have to be rebuilt in March.
- We rebuild each limited partner’s adjusted cost base from the first close under ITA paragraph 53(1)(e) for contributions and allocated income and ITA paragraph 53(2)(c) for allocated losses and distributions taken out of the fund.
- We test every limited partner interest for a negative adjusted cost base at each fiscal period end, because ITA subsection 40(3.1) deems a capital gain the moment it falls below zero and a distribution-heavy fund gets there quietly.
- We prepare the at-risk computation for each limited partner under ITA subsection 96(2.2), because ITA subsection 96(2.1) caps the loss a limited partner may deduct and that working paper is the first thing a CRA auditor asks to see.
- We carry the disallowed excess forward as a limited partnership loss under ITA paragraph 111(1)(e), so a loss capped this year stays available against future income from the same fund rather than being lost outright and forgotten.
- We restate positions carried at original cost onto a documented fair value basis with every input recorded, so the number in the financial statements and the number in the limited partner report finally agree with each other.
- Acquiring, holding and disposing of shares and notes is a financial service under ETA subsection 123(1) and exempt, so the fund recovers no input tax credits and the 13% on legal and diligence is a permanent cost.
- We review the management fee against the management agreement and against what is actually being supplied, because a management or administrative service is not automatically the exempt financial service everyone in the fund assumes it is.
- We test transaction, monitoring and board fees charged to portfolio companies separately from the fund’s own activity, and register the management company once taxable revenue passes $30,000 over four consecutive calendar quarters.
- We file GST34 returns on time for whichever entity is registered and claim input tax credits only where they genuinely belong, because credits claimed by a vehicle making exempt supplies come straight back on a CRA review.
- We quantify the unrecoverable HST on fund formation, administration, audit and dead-deal diligence so the management fee budget carries it as a real cost rather than discovering the gap three years into the fund.
- We read the distribution waterfall in your limited partnership agreement line by line, mapping return of capital, the preferred return, the general partner catch-up and the carry split onto the allocations the T5013 will actually report.
- We review the carried interest allocation against ITA subsection 103(1), because an allocation among partners that the agreement does not support is exactly what CRA recasts, and the agreement is the only evidence that answers it.
- We plan the exit at least two years ahead so portfolio shares can meet the qualified small business corporation tests behind the $1.25M Lifetime Capital Gains Exemption under ITA section 110.6 where those shares qualify at all.
- We compute the capital dividend account under ITA subsection 89(1) for every corporate partner and file the Form T2054 election before the dividend becomes payable, moving the non-taxable half of a realized gain out tax-free.
- We watch ITA subsection 125(5.1) where a management company also holds a portfolio, because adjusted aggregate investment income above $50,000 grinds the business limit down and $150,000 eliminates it entirely.
- We file your oldest unfiled T5013 first, because the $25 per day penalty compounds to its $2,500 maximum on every outstanding year while each limited partner sits without the slip their own return depends on.
- We rebuild the missing capital accounts, allocations and distributions across the unfiled years from bank records, capital call notices and the Juniper Square ledger, so every partner’s adjusted cost base is finally supportable on paper.
- We recompute at-risk amounts across the backlog, because a limited partner who deducted a full share of losses in a year ITA subsection 96(2.1) capped them is carrying a reassessment nobody has warned him about.
- Late corporate filing costs 5% of the balance owing plus 1% per month up to twelve months, so we bring the general partner corporation and the management company current before the arrears interest compounds any further.
- We file a Voluntary Disclosures Program application on Form RC199 before CRA contacts you, because a disclosure accepted under the general program cancels penalties in full and gives roughly 50% interest relief on the older years.
- When CRA challenges a limited partner’s loss, we produce the at-risk computation under ITA subsection 96(2.2) with the capital call records and the agreement behind it, because that working paper is where a partnership audit always begins.
- When CRA tests a negative adjusted cost base, we show the complete ITA paragraph 53(1)(e) and 53(2)(c) history for that partner rather than leaving a reviewer to assume the ITA subsection 40(3.1) gain was simply never reported.
- When an allocation is questioned under ITA subsection 103(1), we produce the limited partnership agreement, the waterfall calculation and the capital accounts showing the allocation follows the deal rather than the tax result it happens to produce.
- We defend fair value on your unquoted positions with the round documents, the inputs and working papers referenced to the IPEV guidelines, because an unsupported valuation is where a CRA reviewer starts and where an auditor stops.
- We file the Notice of Objection within 90 days of a reassessment and pursue taxpayer relief on Form RC4288, protecting your Tax Court rights and cancelling penalties and interest a prior adviser’s omission caused across several years.
- We prepare CSRS 4200 compilation engagement financial statements for the management company and the general partner corporation, which is what a bank reads before advancing the operating facility that funds payroll between capital calls.
- Where the limited partnership agreement requires more, we scope a CSRE 2400 review engagement or support the audit, because an institutional limited partner’s side letter usually decides the engagement level long before the manager does.
- We measure each portfolio position at fair value with the inputs, the round evidence and the methodology recorded, because under CAS 540 an auditor tests the estimate and its inputs, not the number written in a spreadsheet.
- We disclose uncalled commitments, the capital call schedule and any subscription facility in the notes, because a balance sheet showing only drawn capital understates what your limited partners are actually committed to fund.
- We deliver the statements and the limited partner reporting package on the ILPA template within 30 days of the year-end close, because a fundraise for the next fund does not wait on a slow accountant.
- We incorporate the general partner corporation under the Ontario Business Corporations Act and set up the management company alongside it, so liability, the management fee and the carried interest each sit where the agreement actually puts them.
- We work alongside your counsel as the Declaration of Limited Partnership is filed under the Ontario Limited Partnerships Act and diarize the five-year renewal, because a lapsed declaration is discovered at the worst possible moment in a financing.
- We test fund formation and unit issue costs against the five-year write-off in ITA paragraph 20(1)(e) rather than expensing a six-figure legal bill in year one and hoping no reviewer ever opens the file.
- We build the chart of accounts, the partner capital account structure and the waterfall model in Allvue or Juniper Square before the first close, so the records accumulate correctly from the very first capital call.
- We open CRA program accounts for the partnership, the general partner corporation and the management company within the first 30 days, including payroll for the investment team and HST where the management fee is taxable.
- We rebuild months or years of fund books from bank records, capital call notices, subscription agreements and closing binders, so a fund that raised and deployed before it hired an accountant finally has a clean ledger.
- We reconstruct the adjusted cost base of every position round by round from term sheets and share certificates, which is almost always missing when we inherit a venture fund that has already done two or three follow-ons.
- We rebuild the limited partner capital accounts from the first close forward, because a fund cannot issue a defensible T5013 slip or compute a single partner’s adjusted cost base without them existing first.
- We reconstruct the fair value history year by year with the round evidence behind each mark, so the restated statements show a defensible J-curve rather than a straight line somebody drew backwards from today.
- We reconcile management fees, fund administration charges and expense allocations between the fund and the management company across the caught-up periods, so each entity’s T5013 or T2 reports the costs it actually bore.
- We file Form T1135 where foreign portfolio holdings pass the $100,000 cost threshold, a penalty regime CRA applies whether or not any tax was actually owing on the US positions being reported.
- Where the fund or a partner holds an interest in a foreign affiliate, we identify the T1134 obligation and the T106 reporting on non-arm’s-length non-resident transactions rather than discovering both inside a CRA audit letter.
- Where a limited partner is a non-resident, we raise the Part XIII withholding, NR4 reporting and section 116 clearance questions with the fund’s counsel before a distribution or a disposition is made, not afterwards.
- Where a US citizen is a partner or a principal of the firm, we coordinate the Canadian and US filings, because US reporting reaches into a Canadian limited partnership in ways most managers discover far too late.
- We reconcile the Canadian and US positions so foreign tax credits actually land, ensuring tax paid on the same realized gain in one country offsets tax in the other rather than becoming an unrecovered cost.
- We bring the fund forward on T5013 returns that were never filed at all, because the $25 per day penalty and the partner-level exposure both sit behind a partnership return nobody believed was required.
- We disclose deemed gains under ITA subsection 40(3.1) that went unreported when limited partner cost base ran negative, because the gain does not disappear and the penalty for catching it late is exactly what a disclosure removes.
- We correct HST charged or recovered on the wrong side of the ETA subsection 123(1) line across several years, a quiet cumulative error and one of the first things a GST reviewer tests on a fund file.
- We file the RC199 submission with a full reconstruction from capital call notices, the fund administrator’s records and bank statements, so a manager who outgrew his bookkeeping is not left facing an arbitrary CRA assessment.
- We confirm the disclosure is genuinely voluntary before CRA contacts you, the single condition that makes it valid, and secure roughly 50% interest relief on the older years, turning real exposure into a managed correction.
Venture Capital Fund Structure & Tax Check
Six quick questions on your partner capital accounts, your cost base, your at-risk computations, your portfolio valuation, your management fee HST and your general partner corporation. No fee shown.
1. Do you maintain a capital account for every limited partner in the fund?
2. Has each partner’s adjusted cost base been tested for a negative balance?
3. Is an at-risk computation prepared for every limited partner each year?
4. Are portfolio positions carried at a documented fair value rather than at cost?
5. Has the HST treatment of your management fee been analysed?
6. Is your general partner corporation incorporated and filing its own T2?
Free CPA Consultation for Venture Capital Firms
Case Studies: Venture Capital Accounting & Tax
Toronto Seed Fund — The Capital Accounts Nobody Kept
The problem: A Toronto seed fund had closed on eleven limited partners, called capital four times, taken two early exits and distributed the proceeds. In five years nobody had ever posted a capital account. Contributions, allocated income, allocated losses and distributions existed only as bank entries, so no partner’s adjusted cost base could be computed. Three limited partners had received distributions exceeding everything allocated to them, which meant their interests had gone below zero and ITA subsection 40(3.1) had deemed a capital gain in a year none of them reported one.
What we did: We rebuilt every capital account from the first close using ITA paragraph 53(1)(e) and ITA paragraph 53(2)(c), identified the exact period each interest went negative, and filed a Voluntary Disclosures Program application on Form RC199 reporting the deemed gains in the correct years before CRA raised them.
The result:
- $14,200 in penalties cancelled through the disclosure
- Eleven capital accounts rebuilt from the first close
- Cost base now tested at every fiscal period end
Vaughan Management Company — The Fee Nobody Analysed
The problem: A Vaughan firm ran a management company that billed a management fee to its fund under a written management agreement, employed four people and leased an office. It had never registered for HST and had never looked at what it was actually supplying. Every dollar of HST it paid on rent, legal work, fund administration, software and professional fees was absorbed as a cost, on the assumption that anything touching a fund must be an exempt financial service and therefore nothing could ever be recovered.
What we did: We reviewed the management agreement against what the company actually supplied, concluded the arrangement supported registration for this client, registered the management company, and filed the open periods claiming the input tax credits on its own operating costs.
The result:
- $27,850 of input tax credits recovered on open periods
- Supply analysis documented against ETA subsection 123(1)
- GST34 returns now filed on the correct entity
Ottawa Micro Fund — Nineteen Positions Marked at Cost
The problem: An Ottawa micro venture fund held nineteen positions and carried every one of them at the price it originally paid. The quarterly limited partner report was assembled by hand in spreadsheets and took roughly 40 hours each quarter, and it did not agree with the annual financial statements, because the statements used a different set of numbers again. Two companies had raised priced rounds at materially higher valuations and two had ceased operating entirely, and none of that appeared anywhere.
What we did: We moved the fund ledger into Juniper Square with Carta feeding the portfolio cap tables, documented a fair value input set for each of the nineteen positions with the round evidence attached, and rebuilt the capital accounts so partner statements and the financial statements come from one source.
The result:
- Quarterly reporting cut from 40 hours to 6 hours
- Nineteen positions marked with documented inputs
- Partner statements and financial statements finally agree
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
Collect the limited partnership agreement and side letters, the Declaration of Limited Partnership, subscription agreements and commitment schedule, capital call and distribution notices, closing binders and term sheets, prior T5013 and T2 returns, and bank statements.
First 30 Days (Cleanup & Setup)
Set up Juniper Square or Allvue against QuickBooks Online or Xero, rebuild a capital account for every limited partner, restate adjusted cost base by round from Carta, and prepare the first at-risk computations.
Monthly Close
Capital calls and distributions posted to partner accounts, management fee and fund administration charges allocated to the right entity, expenses captured through Dext, and GST34 filed where the management company is registered.
Quarterly Planning Review
Fair value refresh on every position with inputs documented, negative cost base tested under ITA subsection 40(3.1), waterfall and carried interest modelled against the agreement, and the limited partner report issued on the ILPA template.
Year-End Close & T5013 Filing
Trial balance, financial statements with uncalled commitments disclosed, at-risk computations finalised, allocations agreed to the waterfall, T5013 with a slip for every limited partner, and the general partner and management company T2 returns.
Get Your Venture Capital Firm Taxes Done Right Today
Affordable Pricing for Venture Capital Firms
We believe in clear, upfront pricing so you know exactly what to expect. All fees include HST.
- Tax Preparation (Corporation) — From $400
- Tax Return Filing (Corporation) — From $400
- Tax Compliance Audit — FREE CRA audit support for our clients
- Tax Strategy — FREE for our clients
- Accounting Base Plan — From $100 per month
- Bookkeeping Management — Free for our Accounting clients
- Financial Reporting — Free for our Accounting clients
- Business Formation — Flat $35
- Incorporation Process — Flat $35
- Entity Setup Assistance — Flat $35
- Full-Service Payroll — From $125 per month
Payment is by Interac e-Transfer to info@gondaliyacpa.ca only. Security question: Not Applicable, as auto-deposit is enabled.
Meet Your Lead Venture Capital Accountant
Meet your lead venture capital accountant. As your fund and corporate tax adviser, you deal with the same two people every year.
What Our Clients Say
1300+ five-star reviews from fund managers, investors and business owners across Ontario and Canada.
Serving Venture Capital Firms Across Ontario
Our CPA team provides specialized accounting and tax solutions for venture capital firms, fund managers and general partner corporations throughout Ontario. We understand how a capital call moves through a partner’s capital account, why adjusted cost base can go below zero, how a fair value on a private position has to be evidenced, and what CRA looks at first when it opens a limited partnership file.
Toronto (ON)
55 Queen St E Ste 1205, Toronto, ON M5C 1R6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Mississauga (ON)
2100 Camilla Rd #716, Mississauga, ON L5A 2J8
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Brampton (ON)
4 Starhill Crescent, Brampton, ON L6R 2P9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Scarborough (ON)
24 Clementine Square, Scarborough, ON M1G 2V7, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Vaughan (ON)
19 Cabinet Crescent, Woodbridge, ON L4L 6H9, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Oshawa (ON)
210 Durham St, Oshawa, ON L1J 5R3, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Ottawa (ON)
2090 Neepawa Ave a314, Ottawa, ON K2A 3L6, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Etobicoke (ON)
60 Stevenson Rd #1601, Etobicoke, ON M9V 2B4, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Guelph (ON)
1155 Gordon St, Guelph, ON N1L 1S8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Windsor (ON)
4387 Guppy Ct, Windsor, ON N9G 2N8, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
North York (ON)
150 Graydon Hall Dr #912, North York, ON M3A 3B2, Canada
+1 (647) 212-9559
9:00 AM – 8:30 PM (Mon – Sun)
Venture Capital Accounting & Tax FAQs
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Venture Capital Accounting & Tax Done Right.
T5013 partnership returns with a slip for every limited partner, a capital account maintained from the first close, adjusted cost base built under ITA paragraphs 53(1)(e) and 53(2)(c) and tested for the deemed gain in ITA subsection 40(3.1), at-risk computations under ITA subsection 96(2.2) behind every allocated loss, portfolio positions carried at a documented fair value an auditor can test under CAS 540, and the distribution waterfall read from your own agreement. AFFORDABLE flat fees, no hourly billing. Licensed CPA Ontario. 1300+ five-star reviews. 30-Day Money-Back Guarantee.