Tax Accountant for Auto Parts Wholesalers in Ontario and Across Canada
We carry core charges as the liability they are instead of booking them as revenue, adjust the tax on every core return with a credit note under ETA section 232, write down superseded part numbers to net realizable value in the year the value actually disappeared, push supplier volume rebates back against cost of goods sold rather than parking them in other income, carry imported stock at true landed cost with the GST CBSA charged recovered as an input tax credit, and split your racking, forklifts and delivery fleet across Class 8 and Class 10 instead of one undifferentiated pool. Whether you run a jobber store, a warehouse distribution operation, a heavy duty truck parts business, or an import and remanufactured parts line, we handle the inventory, HST and trade credit accounting, and plan the salary, dividends and eventual sale of your company — with AFFORDABLE flat fees.
AFFORDABLE Auto Parts Wholesaler Tax Accountant
An auto parts wholesaler is an inventory business with a tax problem hiding in almost every line of the stock file. You carry tens of thousands of SKUs, and a meaningful share of them will never sell again because the vehicle they fit has left the road or the manufacturer superseded the part number two catalogues ago. Carry that stock at cost and your balance sheet is fiction; write it down without the sales history and supersession record behind it and CRA will take the deduction back. On top of that sits the issue no other trade has: core charges. You bill a deposit on every returnable alternator, starter and caliper, that charge is consideration for the supply and carries tax, and when the old unit comes back you owe a credit note and a tax adjustment under ETA section 232. Most wholesalers net cores against sales and never adjust the tax at all. At Gondaliya CPA, we specialize in inventory, core and landed cost accounting for parts distribution, providing AFFORDABLE flat-fee support that keeps you CRA-compliant and stops you paying more tax than you owe.
As an aftermarket parts distribution accountant, we work with jobber stores, warehouse distributors, heavy duty truck parts businesses, and import and remanufactured parts lines across Ontario, with year-round support rather than a once-a-year scramble. We tell you plainly what you can deduct, what you cannot, and where the real margin sits on each product line you carry.
Let us handle the numbers so you can focus on the counter, the fleet and the installers who actually pay you.
Our Official Partners
Accounting That Understands How a Parts Distribution Business Actually Works
Running an auto parts wholesale business comes with financial pressures a general distributor never faces. Your largest asset is a stock file that quietly goes obsolete, you bill and refund cores on every returnable unit, your suppliers pay you rebates that belong against cost rather than in income, and every installer on your book is on trade credit. At Gondaliya CPA, we understand that reality and provide practical, trade-focused solutions across the GTA and all of Ontario.
Stay Compliant and Minimize Your Auto Parts Wholesale Tax
For a parts distributor, staying onside with CRA, CBSA and the Ontario producer rules and paying the least legal tax are the same job. We keep every filing on schedule while claiming every stock, freight and equipment dollar the T2 allows, so nothing is missed and nothing invites a reassessment.
Accounting & Tax Experts for Auto Parts Wholesalers
- AFFORDABLE + Registered CPA Firm
- Business and Corporate Tax Expert
- Small & Medium Business Expert
- Accounting, bookkeeping, and tax filing
- CPA (Chartered Professional Accountant)
- 1300+ 5-star Google reviews
- 30-Day Money-Back Guarantee
- 60-Day Fees Matching Policy
Why Choose Our Accounting Services for Auto Parts Wholesalers?
Tax Planning — Stock & Equipment Expertise
We know the trade: racking and forklifts in Class 8 at 20%, the delivery fleet in Class 10 at 30%, counter terminals in Class 50, the warehouse build-out in Class 13. We protect the $500,000 Small Business Deduction.
Consulting — Core, Rebate & Margin Bookkeeping
Our bookkeeping carries the core liability, allocates supplier rebates to cost of goods sold, loads duty and freight onto the part, and shows margin by product line rather than one blended number.
CRA Representation — Inventory & HST Audit
When CRA challenges a write-down, a rebate allocation or the tax on your core account, we prepare the response and pursue relief on Form RC4288 where a prior error caused the penalties.
Bookkeeping — Credit, Cash Flow & Sale
We build a cash-flow plan that survives paying suppliers before installers pay you, get your statements ready for a larger trade limit, and prepare the business for sale.
Google Reviews
Auto Parts Wholesale Clients
Auto Parts Wholesaler Tax and Accounting Services in Ontario
Corporate Tax Filing (T2) for Auto Parts Wholesalers
Professional T2 preparation with Schedule 8 CCA split across Class 8 racking, Class 10 delivery vehicles and Class 13 build-out, stock valued under ITA section 10, and CRA compliance on every line.
Bookkeeping & Accounting for Auto Parts Wholesalers
Inventory, core and landed cost bookkeeping with financial statements, clean records, and margin reporting by product line built for parts distribution.
Payroll Services for Auto Parts Wholesalers
Counter, warehouse and driver payroll with WSIB coverage, PD7A remittances, T4s filed by the last day of February, and Employer Health Tax tracking.
GST/HST Filing for Auto Parts Wholesalers
AFFORDABLE HST filing with core charges billed correctly, ETA section 232 credit notes on returns, place of supply applied, and import GST recovered in full.
Tax Planning for Auto Parts Wholesalers
Smart tax planning to protect the Small Business Deduction, time your racking and fleet purchases, and plan salary, dividends and the sale of your business.
Corporate Catch-Up Filing for Auto Parts Wholesalers
File overdue T2 and HST years, rebuild missing stock, core and supplier records, and get back into CRA compliance with accurate catch-up support.
CRA Audit Resolution for Auto Parts Wholesalers
Expert support for inventory write-down, supplier rebate and HST core-account audits, handled with confidence from the first letter.
CPA Financial Statements (Notice to Reader) for Auto Parts Wholesalers
CPA-compiled financial statements that banks accept for an inventory-and-receivables line and that suppliers accept when setting your trade credit limit.
Incorporation Services for Auto Parts Wholesalers
Full incorporation including NUANS, articles, share structure, and the section 85 rollover of your stock, racking and vehicles into the company.
Catch-Up Bookkeeping Services for Auto Parts Wholesalers
Months or years of supplier invoices, core billings and counter sales reconstructed and reconciled, so your stock valuation and margin are finally accurate.
US Corporation & LLC Tax Filing for Auto Parts Wholesalers
Cross-border filing for distributors buying from or selling into the United States, covering 1120/1120-F returns, treaty positions and FBAR reporting.
Voluntary Disclosure Program for Auto Parts Wholesalers
Come forward on unreported core-charge HST, wrong import entries or unfiled T4A slips before CRA calls, cancelling penalties through a Voluntary Disclosures Program application.
Accounting & Tax Services Tailored for Auto Parts Wholesalers
Real, practitioner-level CPA expertise for jobber stores, warehouse distributors, heavy duty truck parts businesses, and import and remanufactured parts lines across Ontario — built for how a parts distribution business actually runs.
- We prepare your T2 with GIFI on Schedule 100 and Schedule 125, separating wholesale sales to jobbers, will-call counter sales, fleet accounts and core charge billings onto their correct lines so CRA’s automated matching does not misread your file.
- We claim capital cost allowance on Schedule 8 with warehouse racking, shelving and forklifts in Class 8 at 20%, the delivery fleet in Class 10 at 30% and counter terminals in Class 50 at 55%.
- We value stock under ITA section 10 at the lower of cost and net realizable value, so superseded part numbers sitting on the shelf for three seasons are written down rather than carried at a cost nobody will pay.
- We carry core charges as a liability against returnable units rather than as revenue, because a wholesaler billing cores on every alternator and caliper is holding money it expects to refund the moment the old unit comes back.
- We book supplier volume rebates as a reduction of cost of goods sold rather than as other income, which keeps your gross margin honest and stops CRA asking why a wholesale business reports a margin no distributor actually earns.
- We reconcile the perpetual stock file in Epicor Vision or MAM Autopart to the general ledger every month, because a parts business running 40,000 SKUs cannot find a shrinkage problem in a once-a-year count.
- We carry imported stock at landed cost, loading customs duty, freight-in and brokerage onto the part rather than expensing them, so your margin on an imported line is the real one and not a flattering fiction.
- We report gross margin by product line rather than one blended number, and on one distributor this showed the hard parts category carrying the business while a high-turn maintenance line sold volume at almost no contribution.
- We age the receivables ledger against the terms you actually granted each installer, because a wholesale book runs entirely on trade credit and a shop 90 days past due is a bad debt forming while you keep shipping.
- We capture every supplier invoice, freight bill and catalogue subscription through Dext and reconcile monthly, keeping the six years of records ITA section 230 requires and making sure no input tax credit is lost to a missing bill.
- We set up counter, warehouse and driver payroll in Wagepoint, withholding income tax, CPP and EI and remitting on the PD7A by the 15th of the following month, because CRA’s late-remittance penalty on source deductions climbs to 10%.
- We settle the employee-versus-contractor question on hot-shot delivery drivers using CRA guide RC4110, because a driver running your routes in your van on your schedule is an employee to CRA whatever the agreement calls them.
- We register your WSIB coverage before the first warehouse hire and keep it current, because a distribution floor with forklifts and heavy stock is exactly the workplace an unregistered employer cannot afford to have an injury on.
- We file your T4 slips and T4 Summary by the last day of February and reconcile them to the PD7A remittances actually made, so a business that adds seasonal counter staff never generates a penalty for a mismatch.
- We monitor total Ontario payroll against the $1,000,000 Employer Health Tax exemption, which a distributor running several branches crosses quickly, so you register and remit in the right year rather than being assessed later with interest.
- Core charges are consideration for the supply and carry HST at the point of sale, so we bill them correctly rather than netting them against sales where the tax quietly goes unreported on every returnable unit you ship.
- When the old core comes back we issue a credit note and adjust the tax under ETA section 232, which is the step most wholesalers skip and the one that makes the core account reconcile at year-end.
- We recover the GST that CBSA charges on every import entry as an input tax credit, because a distributor bringing in container loads leaves real money with the government when those entries never reach the GST34 return.
- We apply the place-of-supply rules so an order shipped to a customer in another province is billed at that province’s rate, because defaulting every invoice to 13% from an Ontario warehouse over-collects and invites an adjustment.
- We reconcile the HST on your returns to the revenue on your T2 every filing period, because CRA’s matching program compares the two and a company whose figures disagree by even $5,000 is among the fastest files pulled for audit.
- We set the salary-versus-dividend mix for the owners, paying enough T4 salary to build RRSP room while the balance flows as dividends, so combined tax stays near the 11.2% (from July 1, 2026) Ontario small-business rate instead of the 53.53% top personal rate.
- We keep your active income under the $500,000 Small Business Deduction limit using ITA section 125, and watch the associated-corporation rules closely where the owner also holds a repair shop or a second branch in a separate company.
- We time your racking, forklift and delivery vehicle purchases against your fiscal year-end so the 20% Class 8 and 30% Class 10 rates give the largest first-year deduction against a strong selling season.
- We review the stock file before year-end so obsolete and superseded part numbers are written down to net realizable value in the year the value actually disappeared, not three years later when a buyer finally forces the issue.
- We plan at least two years ahead so your shares qualify for the $1.275M Lifetime Capital Gains Exemption under ITA 110.6, purifying the company of non-active assets so selling your distribution business defers tax CRA would otherwise collect.
- We reconstruct wholesale sales, counter takings and core billings from bank deposits, the stock system and issued invoices across your unfiled years, rebuilding the six years of records ITA section 230 requires so CRA cannot arbitrarily assess you.
- Late filing costs 5% of the balance owing plus 1% per month up to twelve months, so we file your oldest unfiled T2 first to stop the penalty compounding and limit the arrears interest CRA charges your corporation.
- We rebuild the stock valuation for each unfiled year under ITA section 10, because opening and closing inventory drive cost of goods sold and no catch-up return is defensible without a defensible number at both ends.
- We rebuild the undepreciated capital cost pools so missed allowance on Class 8 racking, Class 10 delivery vehicles and the Class 13 warehouse build-out is recovered rather than lost along with the years themselves.
- 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 an inventory write-down, we produce the sales history, the supersession record and the aging by part number that show net realizable value actually fell, rather than a round-number provision nobody can support.
- When CRA questions supplier rebates, we show the program agreements and the allocation back to cost of goods sold, because a rebate parked in other income is the classic wholesale adjustment and it moves several years at once.
- We answer HST reviews with the core account reconciliation, the ETA section 232 credit notes and the import entries behind every claimed credit, so a review of one period does not open every period you ever filed.
- When CRA opens a full audit, we manage the file and answer the inventory, rebate and payroll queries inside the deadlines, so a one-year review does not expand across the three prior years CRA is entitled to reopen.
- We file the Notice of Objection within 90 days of a reassessment and pursue taxpayer relief on Form RC4288, cancelling penalties and interest that can top $15,000 where a prior accountant’s error caused them, protecting your right to the Tax Court.
- We prepare the CSRS 4200 compilation engagement financial statements a bank requires across two fiscal years before approving the inventory-and-receivables operating line, which is the facility a parts distribution business actually runs on.
- Your compiled statement of financial position presents stock at the lower of cost and net realizable value, the core liability, aged receivables and racking and fleet at net book value, giving a lender the working-capital picture a bare T2 cannot.
- Manufacturers and buying groups set your trade credit limit against the statements, so a distributor applying for a larger line without compiled figures gets the limit a stranger gets rather than the one its balance sheet supports.
- We build the statement of operations with wholesale, counter and fleet revenue and cost of goods sold classified consistently across two years and tied to the T2 filed with CRA, so the bank and the supplier both accept it.
- We deliver the compiled statements within 30 days of receiving your records and the year’s T2 figures, because a credit application or a conditional supplier limit collapses when the file is not produced in time.
- We incorporate your business under the Ontario Business Corporations Act, giving you limited liability on product and delivery exposure and roughly the 11.2% Ontario small-business rate against the 53.53% top personal rate an unincorporated operator pays.
- We complete the section 85 rollover on Form T2057, transferring your stock, racking, delivery vehicles and goodwill into the corporation at elected amounts, deferring the capital gain a straight sale of those assets would trigger.
- We open the corporation’s CRA Business Number, HST and payroll accounts within the first 30 days and add the CBSA import account, so the first container clears customs against the company rather than against you personally.
- We set up the chart of accounts with the core liability, landed cost and rebate treatment built in from the first invoice, so the numbers accumulate correctly as you trade rather than being rebuilt at year-end.
- We structure the share classes and set the first fiscal year-end up to 53 weeks after incorporation, so dividends can be split among family shareholders and the first T2 balance-due date is deferred, keeping tax working longer.
- We rebuild months or years of neglected books from bank deposits, supplier statements, the stock system and issued invoices, so a distributor that let its records slide through a growth year gets a clean ledger.
- We reconstruct the core account across the caught-up periods and reconcile the units billed to the units returned, because an unreconciled core balance is the single most common mess we find on a parts file.
- We recover the input tax credits buried in unentered supplier, freight and CBSA import entries across the backlog, because a container-load cost base can hide five figures of credits over a couple of neglected years.
- We rebuild the stock valuation and the supplier rebate allocation month by month, so the caught-up statements show a gross margin your bank will believe rather than one that swings wildly for no operational reason.
- We rebuild the Class 8, Class 10, Class 50 and Class 13 asset schedules and reconcile payroll across the caught-up months, so an accurate T2 can be filed without guessing at a lost year.
- Where you buy from American suppliers or sell into the United States, we determine whether that activity creates a US filing obligation and prepare Form 1120-F, applying the Canada-US treaty so the same income is not taxed twice.
- We claim treaty protection against a US permanent establishment where your sales staff or a consignment stock arrangement puts activity on the American side, filing the treaty-based return positions that keep it from triggering US corporate tax.
- We handle the CUSMA rules-of-origin question on the parts you import, because origin decides the duty that lands in your landed cost and a wrong claim is recovered by CBSA with interest years later.
- Where a US parent owns your Canadian distributor, we prepare the transfer-pricing documentation and Form T106 on intercompany stock purchases, so CRA cannot reassess the margin shifted across the border on a related-party balance.
- We reconcile the US and Canadian returns so foreign tax credits actually land, ensuring any US tax paid on that activity offsets Canadian tax on the same income rather than being written off as a cost.
- We bring your company forward on HST that was never reported on core charges, because cores billed on thousands of units add up quickly and a disclosure accepted under the general program cancels the penalty.
- We disclose import entries where the GST was claimed but the customs value was wrong, correcting the record with CBSA and CRA together rather than waiting for a verification to find the pattern across several years.
- We file your VDP submission on Form RC199 with a full reconstruction of sales, stock and the core account, so a distributor that outgrew its bookkeeping corrects the record on its own terms.
- We correct unfiled T4A slips on the drivers and installers you paid outside payroll, sparing your company the per-slip penalties CRA would otherwise stack once it matches your expense line to its own records.
- We confirm your disclosure is genuinely voluntary before CRA contacts you — the single condition that makes it valid — and secure the roughly 50% interest relief on the older years, turning a prosecution risk into a managed correction.
Parts Distribution Stock & Core Check
Six quick questions on your core account, your obsolete stock, your supplier rebates, your landed cost, your import GST recovery and whether it is time to incorporate. No fee shown.
1. Are core charges carried as a liability rather than as revenue?
2. Do you issue a credit note and adjust the tax when a core returns?
3. Is obsolete stock written down to net realizable value each year?
4. Do supplier volume rebates reduce cost of goods sold?
5. Is the GST CBSA charges at import claimed on every entry?
6. Is your auto parts business incorporated?
Free CPA Consultation for Auto Parts Wholesalers
Case Studies: Auto Parts Wholesaler Accounting & Tax
Brampton Warehouse Distributor — The Core Account
The problem: A Brampton warehouse distributor had been netting core charges straight against sales for years. Cores billed out never appeared as a liability, cores returned were credited with no tax adjustment, and the HST on tens of thousands of returnable units had simply never been reported correctly in either direction. The owner believed the account washed out because the money went out roughly as fast as it came in. It did not: the tax did not wash out, and the balance owing had been compounding quietly since the business opened.
What we did: We rebuilt the core account from the stock system, separated units billed from units returned, established the liability against outstanding cores, issued the ETA section 232 credit notes the returns required, and brought the unreported tax forward through a voluntary disclosure before CRA reached it.
The result:
- Core account reconciled for the first time
- Unreported core HST disclosed, penalties cancelled
- Credit note routine now runs at the counter
Scarborough Jobber Store — Dead Stock and Rebates
The problem: A Scarborough jobber store carried every part it had ever bought at full cost, including shelves of numbers superseded two catalogues back, and booked its supplier volume rebates as other income. The combination did real damage: the balance sheet showed an inventory figure no buyer or lender would accept, and the gross margin looked like a wholesale business that did not exist, which is exactly the profile that draws a CRA look at a distribution file.
What we did: We built a write-down supported by sales history and the supersession record, took obsolete numbers down to net realizable value under ITA section 10, reallocated the rebate programs back against cost of goods sold, and restated the comparatives so the trend a reader sees is the real one.
The result:
- $140,000 of dead stock written down with support
- Rebates moved from other income to cost of goods sold
- Gross margin now defensible on review
Windsor Import Parts Line — Landed Cost and Import GST
The problem: A Windsor distributor importing container loads of parts was expensing customs duty, freight-in and brokerage as period costs rather than loading them onto the parts, and a run of import entries had never been entered at all, so the GST that CBSA charged at the border was sitting unclaimed. Two separate problems with the same root: nobody was reconciling the import file to the books. The margin on the imported lines looked far better than it was, and real money was parked with the government.
What we did: We rebuilt landed cost across the imported lines, moved duty, freight and brokerage into the cost of the part, reconciled every import entry to the GST34 returns for the open periods, and claimed the input tax credits that had been missed.
The result:
- Import GST recovered across the open periods
- Imported line margin restated to the real number
- Entry-to-return reconciliation now runs monthly
Our clear, efficient process ensures every step is transparent, building trust and long-term client relationships.
Kickoff (Document Request)
Collect prior T2 returns, the stock file and last count, core billing and return records, supplier rebate agreements, CBSA import entries, racking and fleet costs, payroll records, and bank statements.
First 30 Days (Cleanup & Setup)
Set up QuickBooks Online or Xero against Epicor Vision or MAM Autopart, establish the core liability, build landed cost, rebuild the asset schedule across Class 8, 10, 50 and 13, and set the rebate allocation.
Monthly Close
Stock file to ledger reconciliation, core account review, import entry to GST34 tie-out, margin by product line, and receivables ageing against each installer’s terms.
Quarterly Planning Review
Salary and dividend mix, obsolete stock review ahead of year-end, place-of-supply review on out-of-province sales, and racking and fleet purchase timing.
Year-End Close & T2 Filing
Trial balance, financial statements with stock at the lower of cost and net realizable value and the core liability carried, T2 with GIFI, and CRA preparation.
Get Your Auto Parts Wholesale Taxes Done Right Today
Affordable Pricing for Auto Parts Wholesalers
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 Auto Parts Wholesaler Accountant
Meet your lead auto parts wholesaler accountant. As your inventory-business and corporate tax adviser, you deal with the same two people every year.
What Our Clients Say
1300+ five-star reviews from wholesale, distribution and automotive business owners across Ontario and Canada.
Serving Auto Parts Wholesalers Across Ontario
Our CPA team provides specialized accounting and tax solutions for parts distribution businesses throughout Ontario. We understand how stock obsolescence, core charges, supplier rebates and landed cost actually flow through a wholesale operation, what CRA looks at on an inventory-heavy file, and how to keep every write-down defensible.
Toronto (ON)
55 Queen St E Ste 1205, Toronto, ON M5C 1R6, Canada
+1 (647) 212-9559
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Mississauga (ON)
2100 Camilla Rd #716, Mississauga, ON L5A 2J8
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Brampton (ON)
4 Starhill Crescent, Brampton, ON L6R 2P9, Canada
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Scarborough (ON)
24 Clementine Square, Scarborough, ON M1G 2V7, Canada
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Vaughan (ON)
19 Cabinet Crescent, Woodbridge, ON L4L 6H9, Canada
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Oshawa (ON)
210 Durham St, Oshawa, ON L1J 5R3, Canada
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Ottawa (ON)
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Etobicoke (ON)
60 Stevenson Rd #1601, Etobicoke, ON M9V 2B4, Canada
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Hamilton (ON)
70 Starling Dr, Hamilton, ON L9A 0C5, Canada
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Guelph (ON)
1155 Gordon St, Guelph, ON N1L 1S8, Canada
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Windsor (ON)
4387 Guppy Ct, Windsor, ON N9G 2N8, Canada
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North York (ON)
150 Graydon Hall Dr #912, North York, ON M3A 3B2, Canada
+1 (647) 212-9559
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Auto Parts Wholesaler Accounting & Tax FAQs
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Auto Parts Wholesale Accounting & Tax Done Right.
T2 filing, stock valued under ITA section 10 with obsolescence written down on evidence a reviewer will accept, core charges carried as a liability and adjusted on return under ETA section 232, supplier volume rebates allocated against cost of goods sold, imported parts carried at landed cost with the GST CBSA charged recovered in full, and racking, fleet and build-out split across Class 8, Class 10 and Class 13 under one roof. AFFORDABLE flat fees, no hourly billing. Licensed CPA Ontario. 1300+ five-star reviews. 30-Day Money-Back Guarantee.