Bestax

Bestax: Canadian accounting and tax services for companies and individuals

Bestax is an accounting and tax firm that works with corporations and individuals in the Greater Toronto Area (GTA) and across Canada. Its service catalogue covers business setup, bookkeeping, corporate and personal tax, payroll, GST/HST, cross-border tax, CRA audit support and trust and estate matters. The firm states that it agrees fixed fees in writing before work begins and that it does not bill by the hour.

The practice presents itself as a single team handling books, payroll, sales tax and tax returns, so that information is not re-entered or lost between separate providers. It also indicates that every filing is reviewed by a senior professional before submission to the CRA.

Company setup in Canada and other jurisdictions

Bestax assists with federal or provincial incorporation in Canada, including the business number and CRA accounts for GST/HST, payroll and import/export, extra-provincial registration and initial bookkeeping. The catalogue also lists company formation in the United States, the United Arab Emirates (mainland and free zone, with tax guidance) and Panama, as well as FINTRAC MSB registration, compliance and renewal support.

Accounting, bookkeeping and year-end statements

The accounting line includes monthly bookkeeping, bank and credit card reconciliations, management reports and year-end financial statements intended for banks, investors or the CRA. A catch-up bookkeeping service brings overdue books up to date when records are months or years behind.

Corporate and personal tax filings

On the corporate side, Bestax prepares T2 returns for federal and provincial corporations across Canada, plans salary versus dividends, claims the small business deduction where applicable and reports the amount owing before the payment deadline. It also handles late and prior-year corporate returns.

For individuals, the firm files T1 personal returns for employees, business owners, landlords, investors and newcomers. Specific services cover self-employed income on Form T2125, rental income on Form T776, newcomer and non-resident tax, and departure tax for those leaving Canada.

Payroll, GST/HST and cross-border compliance

Payroll services include pay runs, CPP, EI and income tax deductions, CRA remittances on the client's schedule, year-end T4 and T4A slips, ROEs and payroll account setup. The firm also registers businesses for GST/HST and files GST/HST, PST and QST returns monthly, quarterly or annually at the applicable provincial rate.

Cross-border work covers Canadian tax for companies and individuals with income, property or entities outside Canada: foreign affiliates, foreign tax credits, non-resident filings, withholding tax and transfer pricing. Related services include transfer pricing documentation, benchmarking studies and T106 filing for non-resident related-party transactions, as well as US tax returns for Canadians coordinated with Canadian filings.

CRA audits, objections and voluntary disclosures

Once authorized, Bestax represents clients before the CRA in reviews and audits, answers CRA letters and files notices of objection within the deadline when a reassessment is disputed. It also supports voluntary disclosures (VDP) to correct past tax errors.

Trusts, estates and advisory support

The trust and estate practice prepares T3 trust returns, slips and beneficiary reporting, final tax returns for a deceased person and clearances for executors, and assists with trust setup and structuring for families. Advisory support extends to planning for business owners before year end or before major events such as selling the business or bringing in a partner.

Clients and international reach

Bestax describes its client base as ranging from owner-managed companies to multinational groups, including Canadian subsidiaries and branches of US, UAE and global groups, mid-sized and owner-managed corporations, new entrants and startups, and individuals, investors and cross-border families. The firm reports offices in Canada and Dubai, with a presence in the USA and Panama.

According to the information available when this profile was written, the firm states more than 10 years of experience, more than 1,000 clients served and 35 or more qualified professionals in accounting and tax, including a CPA. It also lists a 4.9 out of 5 rating on Google Reviews and a 4.6 out of 5 rating on Trustpilot.

Approvals, memberships and accounting platforms

The firm identifies itself as a CRA EFILE service provider and an ACCA Approved Employer and ICAEW Approved Employer, and holds IFZA Gold Tier Partner recognition and a RAKEZ Appreciation Certificate. It works in QuickBooks, Xero, Zoho Books, Sage, Odoo, SAP and Oracle, and states that it can also work with other platforms.