Tax Accountant for Immigrants With Foreign Assets in Ontario and Across Canada
Most of what you own has never been inside Canada, and a good part of it is not in your own name: a trust your family settled abroad decades ago that lists you somewhere among its beneficiaries, a retirement entitlement built up in a plan no Canadian institution has heard of, perhaps an amount still outstanding between you and that trust from before you ever considered moving. Two information returns attach to a non-resident trust, and they are the part almost nobody is warned about. Form T1142 reports distributions received from such a trust and indebtedness owed to it; Form T1141 reports contributions made to it. Neither one asks whether you regarded the money as income. What you are even less likely to be told is the timing. Section 233.7 of the Income Tax Act is headed Exception for first-year residents, and it overrides those foreign-reporting requirements for an individual, other than a trust, who first became resident in Canada in the year — so the year you landed, the one people worry about most, is usually the quiet one, and the obligation begins with the year after it. It is also no help at all to a returning former resident: somebody who lived here, left, and has now come back did not first become resident in the year of their return. Behind all of it sits the larger question of whether a trust that has never been near this country has been drawn into Canadian residence through its connection to somebody who now lives here, which is a question of fact settled on the trust deed and the contribution history rather than on any general rule. If a pension came with you, paragraph 60(j) of the Income Tax Act provides a route for moving a foreign pension amount into an RRSP, on conditions we read against your own plan documents before a transfer is instructed. We gather the trustee paperwork, establish which returns are genuinely due and for which years, and file them — with AFFORDABLE flat fees.
AFFORDABLE Foreign Asset Tax Accountant
Newcomers are generally given two pieces of advice on arrival, and both of them concern assets held directly. Write down what everything was worth on the day you became resident, because paragraph 128.1(1)(c) of the Income Tax Act hands you a Canadian cost base from that day. Expect a foreign property report from your second year onward. Both are sound, both are worked through at length in our guide to newcomer business owner tax filing in Canada, and neither of them reaches the thing that most often goes wrong on these files. What goes wrong is the property you do not hold in your own hands: a beneficial interest in a family trust abroad, a contribution somebody made to one, an amount that trust has lent you or paid out to you, and a retirement entitlement sitting under somebody else’s law.
So the work starts with documents nobody arrives holding. The trust deed and whatever has been added to it since, the trustee’s account for each year since you became resident, the advice slip behind every distribution, the terms of any loan running between you and the trust, and the residence of each person who ever put money into it. Alongside that we settle two narrower questions that are worth real money when they are asked early rather than late. The first is which of your holdings fall inside the carve-out from the arrival deemed acquisition instead of being swept up by it. The second is which years actually carry a return, and the answer there tends to surprise people: section 233.7, the exception for first-year residents, overrides the foreign-reporting requirements for an individual other than a trust who first became resident in Canada in the year, and the Canada Revenue Agency says as much on the face of Form T1142 itself. The same relief, as it applies to the foreign property report, is set out on that newcomer filing guide. So the arrival year is generally clear, and the reporting starts with your second year here, which is the year nobody warns you about.
You brought the structure with you. We will take the deed, the years and the returns.
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Accounting That Understands How an Immigrant With Foreign Assets Actually Works
No other file has this shape. You are here, and nearly everything that matters is somewhere else, in the hands of a trustee or an administrator who answers to a different legal system and has no reason whatever to produce a Canadian tax package. The holdings vary more than people expect: a discretionary offshore trust, a testamentary trust set up under a parent’s will, an overseas provident fund, a foreign annuity, foreign private company shares the family still runs, an inherited interest in an estate abroad that nobody has wound up, overseas agricultural land held in trust, an offshore investment account held by a trust, a beneficial interest held through a nominee, units in a foreign fund, or simply a right to receive a future distribution. Somebody who has only prepared returns from Canadian-source income cannot tell you which of these generates a return and which generates nothing.
Stay Compliant and Minimize Your Foreign Asset Tax
Compliance and cost pull in the same direction here, for one reason: the cheapest version of this engagement is the one that establishes what was genuinely due before a single return is prepared. A sizeable share of what newcomers assume they owe here was never owed, and a sizeable share of what they never heard of was. Both answers come out of the same bundle of trustee paperwork.
Accounting & Tax Experts for Immigrants With Foreign Assets
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Why Choose Our Accounting Services for Immigrants With Foreign Assets?
Tax Planning — Sequence Before Rate
The order in which a distribution is taken, a transfer is instructed and a return is lodged changes the outcome more than any rate does. We fix the order on paper before anything moves.
Consulting — Written Positions, Marked Uncertainty
On the intricate questions you get a written position with the reasoning in it and the uncertain parts labelled uncertain. A confident answer you cannot check is worth less than a careful one you can.
CRA Representation — Documents Before Letters
A query about a holding abroad is answered with the deed, the trustee’s account and the bank record behind each receipt. Nothing goes back to the Agency until all three are in front of us.
Bookkeeping — One Line Per Structure
A line for each trust, plan and loan, each one carrying its document reference, its original currency and its converted amount, so a figure on a return can be traced back in a minute.
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Foreign Asset Clients
Foreign Asset Tax and Accounting Services in Ontario
Personal Tax Return Filing (T1) for Immigrants With Foreign Assets
Built outward from the structure rather than inward from a slip, with every amount that reached you from abroad tied to the document that evidences it.
Bookkeeping & Accounting for Immigrants With Foreign Assets
One ledger line per trust, plan and loan, each carrying its original currency, the rate used and the paper reference behind it.
Payroll Services for Immigrants With Foreign Assets
Where you employ anybody here, the account, the remittance calendar and the February slips are set up before the first payment leaves.
GST/HST Filing for Immigrants With Foreign Assets
Holding assets abroad creates no sales tax duty whatever. Where you do supply here, 13% in Ontario and the threshold tested on real Canadian sales.
Tax Planning for Immigrants With Foreign Assets
Sequencing work: which carve-out an asset sits in, when a distribution is taken, and whether a pension transfer route is open before it is instructed.
Catch-Up Tax Filing for Immigrants With Foreign Assets
Unreported years rebuilt oldest first, information returns filed late rather than left out, and relief requested on Form RC4288.
CRA Review Representation for Immigrants With Foreign Assets
Queries about a holding abroad answered with the deed, the trustee’s account and the bank record, assembled in full before any reply goes out.
CPA Financial Statements for Immigrants With Foreign Assets
Canadian figures a lender will accept, with what you hold here and what you hold abroad shown as separate lines and the conversion basis disclosed.
Incorporation Services for Immigrants With Foreign Assets
Where a Canadian company is the right answer, the registration and its accounts, with the trust and shareholder position reflected in the records.
Catch-Up Bookkeeping Services for Immigrants With Foreign Assets
Missing years rebuilt from trustee statements and bank records, with every receipt from abroad traced to its character rather than its amount.
Cross-Border Coordination for Immigrants With Foreign Assets
Where you still file where you came from, both sets of filings planned together so one amount is not described two ways.
Voluntary Disclosure Program for Immigrants With Foreign Assets
Come forward on an interest in a trust abroad that was never reported, or on information returns that were never filed at all.
Accounting & Tax Services Tailored for Immigrants With Foreign Assets
Twelve services, written for somebody who has become resident in Canada while most of what they own stays abroad, held by a trustee or an administrator under another country’s law.
- Your return is built outward from the structure rather than inward from a slip: Canadian income first, then every amount that reached you from a trust or a retirement arrangement abroad, each one tied to the paper that evidences it.
- Amounts in another currency are converted on a stated and consistent basis, with the source of the rate and the date it relates to recorded, because that working is exactly what somebody asks for several years afterwards.
- The information returns belonging to a foreign trust interest are prepared alongside the return rather than after it, so one package is lodged and no later amendment is needed to add something that was known all along.
- The records standing behind all of it are retained under section 230 of the Income Tax Act, whose period runs six years, and on a file like this the difficulty is custody abroad rather than retention here.
- Subsection 152(7) of the Income Tax Act matters on an unfiled year because it leaves the Canada Revenue Agency free to assess from whatever it happens to hold, and what it holds about assets abroad is usually incomplete.
- A newcomer with holdings abroad needs a ledger for the holdings and not only for the income: one line for each trust, each plan and each loan, every line carrying the document reference that proves what it is.
- Each receipt from abroad is posted with its original currency, its converted amount and the rate applied, so a figure on a return and a figure on a trustee’s account can be reconciled in about a minute.
- Distributions, loans and repayments are kept apart in the accounts from the moment the first one appears, because for reporting purposes they are three different events and merging them is the error that takes longest to undo.
- Where you also carry on a business here, those books are kept entirely apart from the offshore schedule, so nothing from one engagement is quietly carried across into the other as an unexamined assumption.
- We work inside QuickBooks Online, Xero or Sage 50 where you already use one of them, with Wagepoint or Payment Evolution for any payroll and Dext or Hubdoc carrying the source documents across, the returns themselves prepared in TaxCycle.
- If you employ anybody here, a nanny or an assistant included, the payroll account, the remittance calendar and the February slips are put in place before the first payment goes out rather than afterwards.
- Remittances are scheduled by the day the money has to be received rather than the day it is instructed, which matters while the funding still comes from an account outside Canada and takes several banking days.
- Account statements are reconciled against the payroll ledger as each one arrives rather than once a year, so a short period stays a correction while it is small instead of becoming an assessment with interest attached.
- Payroll sits on its own schedule and its own file, kept apart from the trust and pension work, because the two have nothing to do with one another and a shared deadline list obscures both of them.
- Where pay ran for months with nothing deducted, the periods are rebuilt oldest first and cancellation of penalties and interest is requested on Form RC4288 where the default traces to circumstances you did not control.
- Holding assets abroad creates no sales tax duty of any description, and we say that at the first meeting, because a newcomer who registers for everything at once then files returns for years that were never owed.
- Two numbers decide the sales tax question and neither has anything to do with your holdings: the $30,000 small-supplier threshold, read as a running total over four consecutive calendar quarters, and the 13% that applies in Ontario once you are registered.
- A distribution from a trust, a pension payment and a loan from a relative abroad are none of them consideration for a supply, and not one of them counts toward that registration threshold.
- Once an account exists the returns go in on the period assigned to you, and credits are claimed in the period they arose instead of being gathered up and claimed at the end of a year.
- A registration you held in the country you came from has no bearing here. The Canadian test is applied to Canadian supplies, and nothing is carried across from a foreign registration number.
- Planning here is sequencing work. The order in which a distribution is taken, a transfer is instructed and a return is lodged moves the outcome more than any rate will, and that order is settled before anything happens.
- Where a transfer of a foreign pension amount into an RRSP under paragraph 60(j) of the Income Tax Act is in prospect, the conditions are tested against your own plan documents first, since a transfer made outside them is just a taxable receipt.
- Where you hold or expect to hold shares of a Canadian company, the lifetime capital gains exemption in section 110.6 stands at $1.25 million and its conditions are tested years ahead of a sale rather than at closing.
- The arrival deemed acquisition does not reach every asset, so we establish which holdings fall inside the carve-out and therefore carry their own history forward instead of taking a Canadian cost base on your first day here.
- Nothing in this engagement turns on your immigration status, and we do not reason from one to the other: residency for tax purposes and status under the immigration rules are decided on different tests by different bodies.
- Which years are in default is settled first, because section 233.7 generally clears the arrival year and a returning former resident gets no such year; the ones that remain go in oldest first, since interest has been running from each year’s own due date.
- A return missing for a year that has already closed is still prepared and lodged, late, because omitting it leaves a penalty running on the omission itself, independently of whether any tax was ever payable for that year.
- The penalties on the foreign trust information returns are structured per year and they are material. We confirm the current structure for your own years before telling you what a missed year costs, and print no figure here.
- Where a trustee cannot produce a complete history, the reconstruction states plainly what has been established and what is still unknown, because a return built on a guess is worse than one that discloses a gap.
- Once the years are lodged, cancellation of penalties and interest is requested on Form RC4288 under the taxpayer relief provisions, on grounds made out from your own facts rather than asserted in a covering letter.
- A query about a holding abroad is answered with the trust deed, the trustee’s account and the bank record behind each receipt, assembled in full before the first letter leaves this office rather than while it is being drafted.
- Where the Agency’s position rests on an assumption about who controls a trust or who put money into it, the reply is the instrument and the contribution history, with the documented parts and the undocumented parts identified.
- Requests arriving from the International and Ottawa Tax Services Office are answered in the form that office works in, and every reply is sent to you for review before it goes rather than after.
- Where an assessment is simply wrong, a notice of objection is lodged within the statutory period and the case rests on your own documents, not on whatever the notice of assessment assumed in the first place.
- Where the real question is about the law of the country your trust is governed by, we say so and decline it, then help you put that question to somebody qualified to answer it there.
- Where a bank, a landlord or a mortgage broker needs Canadian figures, the compilation engagement report is prepared so that what you hold here and what you hold abroad appear as separate lines rather than a single total.
- A beneficial interest in a trust is described for what it is, with its basis of measurement stated, rather than given a value the deed does not support and a reader has no way of verifying.
- Statements come out of the period close instead of weeks after it, so the figures reach a lender on the day they are expected rather than holding up an application that is already in progress.
- Amounts are shown in Canadian dollars with the conversion basis disclosed, because a reader holding a foreign statement alongside them will otherwise arrive at a different number and quite reasonably ask why.
- A compilation engagement is neither an audit nor a valuation and the report says so on its face. Where a value has to be defended rather than merely stated, that is a valuator’s work and we will tell you so.
- Whether a Canadian company is the right home for anything you already hold abroad is scoped as its own question, and we say at the outset that the legal and commercial parts of it are not ours to decide.
- Where a company is put in place, section 125 brings the combined Ontario rate on the first $500,000 of active business income down to about 12.2%, and what follows from that rate is planned before the first year ends.
- Moving an asset held outside Canada into a Canadian company is not a paperwork step. Nothing is transferred on an assumption, and nothing moves until both the Canadian and the foreign consequences are written down.
- Shares held by a trust, or a trust named as a shareholder, changes what the corporate records must show, so the register is set up to reflect the actual holder rather than whoever happens to sign for it.
- We do not advise on the trust instrument, on who ought to be added to it, or on the law of the place that governs it. Those belong to a trust lawyer in that jurisdiction and we will say so plainly.
- Missing years are reconstructed from trustee statements, bank records and whatever correspondence survives, taken in the order the overdue returns will have to follow rather than the order in which the documents happen to arrive.
- Each receipt from abroad is traced to its character, whether a distribution, a loan, a repayment or a pension payment, because character decides the reporting and the commonest finding is an amount filed under the wrong one.
- Where a trustee has changed, or more than one firm has administered the trust, the gap in the record is identified and chased rather than papered over with an opening balance that nobody can support.
- Amounts running between you and a trust abroad are reconstructed with their dates and balances, because an amount owed to a non-resident trust is reportable in itself and is routinely missed in a year when no money moved.
- Nothing is submitted until the trustee’s account, the bank record and the schedule we have built agree with one another, since an overdue return prepared from three inconsistent sources invites the next review instead of closing this one.
- Where you still file a return in the country you came from, the two sets of filings are planned together, so that an amount described one way there is not described a different way here.
- Dates decide more than labels on these files. The day you became resident, the day a distribution was made and the day a payment was received are each established from documents rather than from recollection.
- Where tax has been paid abroad on an amount that also appears on your Canadian return, whether and how that is relieved here is a separate determination, and it is scoped separately instead of folded into this one.
- We do not advise on the tax law of the country your assets sit in. We identify the question, say plainly that it belongs to an adviser there, and then work from their written answer rather than around it.
- Where a trustee or a plan administrator wants something from Canada before releasing a document or a payment, we prepare that correspondence, because the delay is almost always at their end and nobody else chases it.
- The Voluntary Disclosures Program is first-come. Form RC199 carries the application, nothing may be held back from it, and the route closes for the years concerned once the Canada Revenue Agency has made contact about them.
- An unreported interest in a family trust abroad is among the commonest reasons a newcomer comes forward, and a disclosure has to cover every affected year rather than the ones a trustee can evidence most readily.
- Any information return that was never lodged forms part of the disclosure, since an omitted return holds a year open on its own account even once the tax has been settled and everything else is current.
- Acceptance means penalties are relieved and part of the interest with them, the tax itself remaining payable, and set against an assessment raised on identical facts without a disclosure the difference is substantial.
- We tell you before anything is drafted whether we believe the route is open, and where a letter has already arrived about those years we say so at once instead of preparing a submission that cannot be accepted.
Foreign Trust and Pension Reporting Check
Six questions on whether a trust abroad touches your file, what has moved between you and it, whether you hold the deed and the trustee’s accounts, and whether anything has been reported from your second year here onward. No fee shown.
1. Do you know whether you are a beneficiary of, or a contributor to, any trust outside Canada?
2. Have you received anything from, or do you owe anything to, a trust outside Canada?
3. Do you hold the trust deed and a trustee’s account for each year since you became resident?
4. Has anybody worked through whether your arrival affects the trust’s own residence?
5. Do you hold a pension or retirement entitlement in a plan outside Canada?
6. Have the information returns gone in for each year from your second year of residence onward?
Free CPA Consultation for Immigrants With Foreign Assets
Case Studies: Foreign Asset Accounting & Tax
Alliston — Three Years of Payments Everyone Called Gifts
The problem: A client who had settled in Alliston received an annual payment from a trust her father had set up abroad long before she moved. The family described these as gifts, so nothing had ever been reported, and she also had an old balance outstanding to the same trust that nobody had mentioned to any accountant.
What we did: We obtained the deed and the trustee’s account for each year, established which years actually carried a reporting obligation and which did not, prepared the returns for those years, documented the outstanding balance with such written terms as existed, and requested relief on the years that had run late.
The result:
- Reportable years separated from years with nothing due
- Outstanding balance documented and brought onto the returns
- Relief requested on the late years, with grounds evidenced
Angus — A Pension Transfer Instructed Before Anyone Checked
The problem: A client near Angus had asked his former employer’s plan abroad to release his entitlement as a lump sum, intending to put it straight into an RRSP on the strength of something he had read. The payment had been requested but not released. He was told the transfer was automatic for newcomers. It is not.
What we did: We read the plan rules and the payment notice against paragraph 60(j), set out in writing what the documents did and did not establish, and recommended he hold the request until the position was settled rather than move money first and ask afterwards.
The result:
- No transfer made on an assumption about the plan
- Written position on the documents, uncertainties marked
- The receipt reported on the basis the plan terms supported
Beeton — A Deed Nobody in Canada Had Read
The problem: A family in Beeton included the mother among the beneficiaries of a trust administered abroad for more than twenty years by two successive firms. The question only surfaced when a letter arrived asking about holdings outside Canada, and at that point no one in the household had seen the deed itself.
What we did: We assembled the deed and its later amendments, built a contribution history with each contributor dated and placed by residence, worked through the definitions one condition at a time, and produced a written position marking clearly which parts were established and which remained open.
The result:
- Deed and contribution history assembled for the first time
- Written position with open questions identified as open
- The letter answered from documents rather than from assertion
How We Work With Immigrants With Foreign Assets
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
What we ask for first: the date you became resident and how that was determined, your social insurance number, whether you have ever been resident in Canada before, a list of everything you owned on that day, the trust deed with any later amendments, the trustee’s account for each year since, every distribution advice, the terms of any balance between you and the trust, and your plan documents.
First 30 Days (Holdings Schedule)
The trustee request letter sent in your name, a holdings schedule built structure by structure, each asset categorised against the carve-out from the arrival deemed acquisition, and a first determination drafted of which returns were due for which years, with the arrival year and any earlier spell of Canadian residence settled explicitly rather than assumed.
Trustee Follow-Up
Chasing what has not arrived, because it usually has not. Gaps between successive trustees identified, missing years listed, and anything a trustee declines to provide recorded along with the request, so the file shows what was asked and what was refused.
Written Positions
The intricate questions answered on paper: whether the trust’s residence is affected by your own, whether a pension transfer route is open on these plan terms, and which assets carry their own history forward. Uncertain parts labelled uncertain, with the reasoning shown.
Filing and Record Retention
The return and its information returns lodged as one package, amounts reconciled to the trustee’s account in both currencies, relief or a disclosure pursued where years ran late, and the record bundle under section 230 closed off with the correspondence inside it.
Get Your Foreign Asset Taxes Done Right Today
Affordable Pricing for Immigrants With Foreign Assets
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 Foreign Asset Accountant
The same two people handle your file every year, which on an engagement built out of trustee correspondence matters more than it sounds: nobody has to be told the history a second time.
What Our Clients Say
More than 1300 verified five-star Google reviews, a good number of them from people who arrived here holding something they had never had to report anywhere before.
Serving Immigrants With Foreign Assets Across Ontario
From a single beneficial interest in one family trust to a household holding four structures across three countries, the same two questions decide whether the year closes quietly: which returns were genuinely due, and can the documents behind them be produced. We act for new residents in Toronto, Markham, Oakville, Brampton, Etobicoke, Scarborough, North York, Ottawa, Oshawa, Guelph, Hamilton, Windsor, Kitchener, Barrie and Newmarket, and the deed reads the same wherever in the province you have landed.
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)
Foreign Asset Accounting & Tax FAQs
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Foreign Asset Accounting & Tax Done Right.
The trust deed read and the contribution history built with every contributor named, dated and placed by residence. Form T1142 prepared where a distribution reached you from a non-resident trust or a balance is outstanding to one, and Form T1141 prepared where a contribution was made to it, and the years that carry no return identified as carrying none, because section 233.7 generally clears the year you arrived and the reporting begins with your second year here, unless you were resident in Canada before, in which case it clears nothing. The deemed resident trust question answered on your own instrument rather than on a general rule, in writing, with the uncertain parts marked uncertain. A paragraph 60(j) transfer of a foreign pension amount into an RRSP tested against your plan documents before anything is instructed, because a transfer attempted outside the conditions is simply a taxable receipt. The carve-out from the arrival deemed acquisition applied asset by asset, so the holdings that carry their own cost history forward are identified while the old paperwork still exists. Six years of records under section 230, kept where they can be produced on request. Relief on Form RC4288, or a disclosure on Form RC199 where nothing was ever reported. AFFORDABLE flat fees, no hourly billing. Licensed CPA Ontario. 1450+ five-star reviews. 30-Day Money-Back Guarantee.