Past Account Cleanup Scarborough
Unfiled T2 corporate returns, overdue HST, catch-up bookkeeping, CRA compliance letters, payroll arrears, bank reconciliation backlogs and financial statement preparation for prior years. We bring Scarborough businesses back to full CRA compliance. From $499.
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Scarborough Clients
CRA Already Knows Your Scarborough Corporation Exists and Every Unfiled Return Is a Flag They Are Tracking
CRA cross-references incorporation records, HST registrations, payroll accounts and bank data against filed returns. When your Scarborough corporation has an active Business Number but no T2 filed for 2 years, CRA does not assume you forgot. CRA assumes you owe money. The demand to file arrives first. If you ignore it, CRA estimates your income from industry averages and third-party data and issues an arbitrary assessment. That assessment is almost always higher than your actual tax. Then the penalties start: 5% of the balance plus 1% per month for up to 12 months on a first offence, or 10% plus 2% per month if there is a prior late-filing penalty. Add compound daily interest at 10% on every dollar. A $12,000 actual tax bill becomes $21,000 in 18 months without a single additional transaction.
We handle past account cleanup for Scarborough businesses from $499. Unfiled T2 corporate returns prepared and filed. Overdue HST periods caught up with ITCs recovered. Bank reconciliation backlogs cleared. NTR financial statements prepared for every outstanding year. CRA compliance letters answered. Penalty relief applications submitted. From Agincourt to Malvern, Scarborough Town Centre to Highland Creek, Woburn to Birch Cliff, we bring Scarborough businesses back to full CRA compliance.
Book Free Consultation
Past Account Cleanup Services in Scarborough
Unfiled T2 Returns
Corporate tax returns for every outstanding year prepared and filed. Financial statements, GIFI schedules and CRA-required disclosures completed.
Catch-Up Bookkeeping
Months or years of unreconciled transactions categorized, bank statements matched and books brought current in QuickBooks, Xero or your existing software.
HST Cleanup and Filing
Overdue HST/GST periods calculated, filed and remittances planned. ITCs recovered from prior periods. Instalment arrears addressed.
CRA Compliance Letters
Demands to file, arbitrary assessments, requirements to pay and collection actions responded to with documentation and filed returns.
Penalty Relief Requests
Taxpayer Relief Provisions (RC4288) filed where eligible. Extraordinary circumstances, CRA errors and first-time offences documented for penalty cancellation.
Payroll Arrears
Unfiled T4s, missed CRA remittances, outstanding ROEs and employer penalty assessments corrected and brought current.
How We Clean Up Past Accounts for Scarborough Businesses
A structured 6-step process that brings your books from behind to fully compliant. AFFORDABLE flat-fee pricing. No hourly billing.
Assessment: What Is Outstanding
We identify every gap between where you are and where CRA expects you to be.
- Review CRA My Business Account to identify all unfiled T2 returns, HST periods and T4/T5018 obligations.
- Check for CRA compliance letters, arbitrary assessments, requirements to pay and active collection actions.
- Identify outstanding payroll remittances, unfiled ROEs and employer penalty assessments.
- Determine the last date your books were reconciled and the months or years of catch-up required.
- Provide a fixed-fee quote for the entire cleanup before any work begins. No surprises.
Bank Reconciliation and Catch-Up Bookkeeping
The foundation. Every other filing depends on accurate books.
- Collect bank statements, credit card statements and payment records for all outstanding periods.
- Categorize every transaction against the chart of accounts in QuickBooks, Xero or your existing software.
- Reconcile bank accounts month by month to zero discrepancy between books and bank balances.
- Identify and record missing invoices, deposits, loan payments, intercompany transfers and shareholder transactions.
- Prepare clean trial balances for each fiscal year-end required for T2 filing.
Financial Statement Preparation
CRA requires financial statements with every T2 corporate return.
- Prepare NTR financial statements for each outstanding fiscal year from the clean trial balance.
- Include Balance Sheet, Income Statement and Notes to Financial Statements per CPA standards.
- Reconcile retained earnings across multiple years for continuity from one year to the next.
- Prepare GIFI schedules that map directly to the T2 return.
- NTR financial statements from $250 per year. Included in the cleanup fee for most engagements.
T2 Corporate Return Filing
Every outstanding T2 filed. Every schedule completed. Every disclosure included.
- Prepare T2 corporate tax returns for each unfiled fiscal year using the financial statements and GIFI data.
- Calculate federal and Ontario corporate tax, small business deduction, CCA and loss carryforwards.
- File all outstanding T2 returns electronically. Confirmation numbers retained for every filing.
- Calculate total tax, penalties and interest across all years. Determine if a payment plan is needed.
- File in correct sequence (earliest year first) to ensure loss carryforwards apply correctly.
HST, Payroll and Other Filings
T2 is not the only obligation. HST, payroll and information returns must also be current.
- Calculate and file overdue HST/GST returns for all outstanding periods. Recover ITCs where eligible.
- File overdue T4, T4A and T5018 slips for any years with payroll or contractor payments not yet reported.
- Submit outstanding CRA payroll remittances and calculate employer penalties and interest owing.
- File outstanding ROEs with Service Canada for past employee separations not yet reported.
- Address any other CRA information return obligations (T5, NR4, T3) identified in the assessment.
Penalty Relief and Payment Arrangements
Once everything is filed, we work to reduce what you owe and arrange how you pay it.
- File Taxpayer Relief requests (RC4288) for penalty cancellation where extraordinary circumstances exist.
- Document illness, family emergency, CRA error, advisor failure or first-time lapse.
- Negotiate CRA payment arrangements for any remaining balance. Typical: 12 to 24 months.
- Set up pre-authorized debit with CRA so no deadlines are missed going forward.
- Transition the Scarborough business to ongoing monthly bookkeeping so the backlog never recurs.
Free Past Account Cleanup Consultation
Free Past Account Cleanup Consultation
Case Studies: Past Account Cleanup in Scarborough
Logistics Corp, Agincourt (3 Years Unfiled T2s)
A logistics corporation in Agincourt had not filed T2 returns for 3 fiscal years. CRA issued an arbitrary assessment of $48,000. We caught up all bookkeeping, prepared NTR financial statements for each year, filed all 3 T2 returns and reduced actual tax owing to $13,800. Penalty relief approved for Year 1. Total savings vs. arbitrary assessment: $34,200. Get Started →
Auto Repair Holdco, Woburn (HST Arrears + Garnishment)
An auto repair holding company in Woburn had 2 unfiled T2 returns and 10 overdue HST periods. CRA issued a requirement to pay to the business bank account for $39,000. We filed emergency returns within 8 days, recovered $11,200 in missed ITCs, demonstrated actual balance of $21,400 and negotiated withdrawal of the garnishment. Payment plan established over 18 months.
Dental Practice PC, Malvern (Payroll + T2 Backlog)
A dental practice in Malvern had 2 unfiled T2s, 2 years of unfiled T4s for 4 employees and missed payroll remittances. CRA employer penalty assessment: $9,200. We filed all T2s and T4s, submitted overdue payroll remittances, filed penalty relief. Penalty reduced to $1,400. Transitioned to monthly bookkeeping. Bookkeeping Services →
Consulting Corp, Highland Creek (4 Years Behind + Director Liability)
A consulting corporation in Highland Creek had not filed for 4 years. CRA assessed the sole director personally for $26,000 in unremitted HST. We filed all 4 years of T2 and HST returns, demonstrated actual HST owing was $11,800, filed a due diligence defence for director liability and negotiated the personal assessment down to $11,800 on a 24-month payment plan.
What Triggers CRA Action Against Scarborough Businesses
| CRA Action | What It Means | How We Resolve It |
|---|---|---|
| Demand to File | CRA identified an unfiled obligation. 90 days or arbitrary assessment. | We file the outstanding returns within the 90-day window. |
| Arbitrary Assessment | CRA estimates income from industry data. Almost always higher than actual. | We file the actual return with financial statements. CRA reassesses. |
| Requirement to Pay | Sent to your bank or clients. Bank freezes funds. | File all returns. Negotiate payment arrangement. Request withdrawal. |
| Collections and Garnishment | CRA garnishes bank accounts, seizes assets without court order. | Emergency filing. Hold collection. Payment plan negotiated. |
| Director Liability | Directors assessed personally for unremitted HST and payroll. | File all corporate returns. Due diligence defence prepared. |
CRA Can Garnish Without Warning: For HST and payroll source deductions, CRA can freeze your Scarborough business bank account without prior notice. Unfiled HST or missed payroll remittances means the risk is immediate. We file emergency returns and contact CRA collections directly.
CRA Penalties and Interest for Late Filing
| Filing Type | Late-Filing Penalty | Interest |
|---|---|---|
| T2 Corporate (first offence) | 5% of balance + 1%/month up to 12 months | Compound daily at 10% |
| T2 Corporate (repeat) | 10% of balance + 2%/month up to 20 months | Same compound daily. Repeat = prior 3 years had late penalty. |
| HST/GST Return | 1% of balance + 0.25%/month up to 12 months | Compound daily + instalment interest if missed. |
| Payroll Remittances | 3% (1-3 days), 5% (4-5), 7% (6-7), 10% (7+ or repeated) | Compound daily. Per remittance period. |
| T4/T4A (late) | $10/day per slip up to $1,000 (1-5 slips) | No interest on info return penalties but triggers payroll audit. |
| Failure to File | Demand to file. Ignored = arbitrary assessment. | Filing actual return always better than ignoring demand. |
What Our Past Account Cleanup Includes
| Service | What We Do |
|---|---|
| CRA account review | Access My Business Account. Identify every unfiled return, balance, compliance letter and collection action. |
| Catch-up bookkeeping | Bank reconciliation, transaction categorization and trial balance for all outstanding periods. |
| NTR financial statements | Notice to Reader for each fiscal year. Balance Sheet, Income Statement, Notes. From $250/year. |
| T2 filing | All outstanding T2s prepared and filed electronically. GIFI, loss carryforwards, CCA calculated. |
| HST/GST cleanup | All overdue periods calculated, ITCs recovered, returns filed. |
| Payroll corrections | Unfiled T4s, missed remittances, outstanding ROEs filed. Employer penalties negotiated. |
| CRA correspondence | Compliance letters, demands, arbitrary assessments responded to. |
| Penalty relief (RC4288) | Taxpayer Relief filed where eligible. Extraordinary circumstances documented. |
| Payment arrangements | CRA payment plans negotiated. 12-24 months. Pre-authorized debit set up. |
| Transition to ongoing | Monthly bookkeeping from $150/month. HST filing and T2 FREE. Backlog never recurs. |
Do You Need Past Account Cleanup?
- You have 1 or more unfiled T2 corporate tax returns
- You have received a CRA demand to file or compliance letter
- You have overdue HST/GST periods that have not been filed
- Your bookkeeping has not been done for 6+ months
- Your bank accounts have not been reconciled in the accounting software
- You have received an arbitrary assessment from CRA
- CRA has sent a requirement to pay to your bank or clients
- You have unfiled T4s or missed payroll remittances
- You need financial statements for a bank loan, mortgage or lease
- You want to dissolve a corporation but there are unfiled returns
- You have a director liability assessment for unremitted HST or payroll
- You need CRA compliance for government programs or licence renewals
Past Account Cleanup from $499. Fixed Fee. No Surprises.
We quote the entire cleanup before work begins. 30-Day Money-Back Guarantee.
Why Scarborough Businesses Choose Gondaliya CPA
CRA Compliance Experts
Unfiled returns, arbitrary assessments, compliance letters, garnishments and director liability handled every week.
Fast Turnaround
Most cleanups in 2 to 6 weeks. Emergency filings for active CRA collection actions.
Fixed-Fee Quotes
Total cost quoted before work begins. No hourly billing. 30-Day Money-Back Guarantee.
1300+ Reviews
The highest-rated CPA firm serving Scarborough. AFFORDABLE pricing. 60-Day Fees-Matching.
Transparent Flat-Fee Pricing
| Service | Fee | Includes |
|---|---|---|
| Past account cleanup (1 year) | From $499 | Catch-up bookkeeping, NTR financial statements, T2 return, CRA correspondence |
| Past account cleanup (2 years) | From $899 | 2 years bookkeeping, 2 NTR statements, 2 T2 returns, HST if applicable |
| Past account cleanup (3+ years) | From $1,199 | Full multi-year cleanup. Quoted per engagement. |
| HST cleanup (per period) | From $75 | HST calculation, ITC recovery, filing. Included in multi-year packages. |
| Penalty relief (RC4288) | From $299 | Taxpayer Relief application, documentation, submission and follow-up. |
| Ongoing monthly bookkeeping | From $150/month | Monthly bookkeeping after cleanup. HST filing, T2 FREE. |
Know Your Exact Fee Before We Start
Flat fee, fixed in advance. 30-Day Money-Back Guarantee. 60-Day Fees-Matching Policy.
Past Account Cleanup Across Scarborough
We serve businesses in every Scarborough neighbourhood. Virtual delivery across the entire area and GTA.
168 Simcoe St Unit 1118, Toronto, ON M5H 4C9
Phone: 647-212-9559
Industries We Serve in Scarborough
Specialized startup tax & accounting Healthcare In Scarborough
Specialized healthcare tax & accounting Consultants In Scarborough
Specialized consulting tax & accounting Small Businesses In Scarborough
Specialized small business tax & accounting Restaurants In Scarborough
Specialized restaurant tax & accounting Franchises In Scarborough
Specialized franchise tax & accounting Self-Employed In Scarborough
Specialized self-employed tax & accounting Manufacturing In Scarborough
Specialized manufacturing tax & accounting Grocery Stores In Scarborough
Specialized grocery tax & accounting Import & Export In Scarborough
Specialized import/export tax & accounting
Frequently Asked Questions: Past Account Cleanup Scarborough
Meet Your Past Account Cleanup Specialists
Sharad Gondaliya, CPA
Founder & Managing Director
Gondaliya CPA Professional Corporation
Sharad manages all past account cleanup engagements, CRA negotiations, penalty relief applications and director liability matters.
Vandana Goel, CPA
Senior Accountant
Gondaliya CPA Professional Corporation
Vandana handles catch-up bookkeeping, bank reconciliation, NTR financial statement preparation and T2 filing.
What Our Clients Say
1300+ five-star reviews from business owners across Ontario and Canada.
10 Smart Past Account Cleanup Strategies That Save You Money
| # | Strategy | Why It Saves You Money |
|---|---|---|
| 1 | File the earliest year first | Loss carryforwards from earlier years offset income in later years. Filing out of order means you pay tax on a year that should have been reduced by a prior-year loss. |
| 2 | Recover unclaimed ITCs from every unfiled HST period | Many Scarborough businesses have thousands in ITCs sitting in unfiled HST returns. Filing recovers those credits and reduces the balance owing. |
| 3 | File before CRA issues an arbitrary assessment | An arbitrary assessment estimates income far higher than actual. Filing first avoids the inflated balance and the interest accumulating on it. |
| 4 | Apply for penalty relief under Taxpayer Relief Provisions | CRA cancels penalties for extraordinary circumstances and first-time lapses. A $5,000 penalty cancellation is $5,000 you keep. |
| 5 | Maximize Capital Cost Allowance in every outstanding year | CCA claims on vehicles, equipment, computers and leasehold improvements reduce taxable income in each unfiled year. |
| 6 | Claim the small business deduction on the first $500,000 | The SBD reduces federal tax from 15% to 9% on the first $500,000 of active business income. Missing this overpays tax by up to $30,000 per year. |
| 7 | Reconcile shareholder loan accounts before filing | Unreconciled shareholder loans can be added to personal income under Section 15(2). Proper reconciliation prevents this taxable benefit. |
| 8 | Negotiate a payment plan before CRA escalates to collections | A voluntary arrangement prevents garnishment. The cost of garnishment recovery far exceeds the cost of a proactive payment plan. |
| 9 | Claim home office expenses for eligible past years | A portion of rent/mortgage interest, utilities and insurance is deductible if the business operated from home. Reduces taxable income for every eligible year. |
| 10 | Transition to monthly bookkeeping after cleanup | The cheapest cleanup is one that never happens again. Monthly bookkeeping ($150/month) eliminates future penalties entirely. |
Browse Our AFFORDABLE CPA Services
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- Management Accounting and Reporting
- Past Account Clean-Up Services
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- Cloud Accounting Setup & Support
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- Accounting Systems Design
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Behind on CRA Filing? We Bring Scarborough Businesses Back to Compliance.
Unfiled returns, catch-up bookkeeping, HST arrears, penalty relief, payment plans. From $499. Fixed fee.