Corporate & Business Tax

At Blue Ocean Tax, we specialize in owner-managed Canadian corporations and provide practical, tax-efficient, and growth-focused advisory services.

Small Business Startup & Incorporation Advisory

(Small Business Startup & Incorporation Advisory)

  • Incorporation & CRA setup (corporate tax, payroll, GST/HST/QST)
  • Choosing the right year-end
  • Share structure & owner-manager compensation planning
  • Startup budgets & cash-flow projections
  • Tax-efficient setup
  • Business plan support (bank & funding purposes)

Ideal for :  New corporations, professionals, family businesses

Ongoing Accounting & Financial Reporting
  • Monthly & quarterly bookkeeping
  • Financial statements (Notice to Reader / Compilation)
  • Year-end accounting & adjusting entries
  • Management financial reports
  • Clean-up & catch-up bookkeeping 

Tools supported :  Cloud accounting – QuickBooks, Wave, and Xero

Corporate Tax & Owner-Manager Tax Planning
  • Corporate income tax returns (T2)
  • Personal tax returns for shareholders (T1)
  • Salary vs dividend planning
  • Small business deduction optimization
  • Corporate tax instalment planning
  • Tax planning to minimize overall family tax
GST/HST & QST Compliance for Corporations
  • GST/HST & QST registration
  • Federal & Quebec sales tax filings
  • Multi-province tax compliance
  • Zero-rated & exempt supply analysis
  • Input tax credit & ITR optimization
  • CRA & Revenue Québec audit support
Payroll & Employer Compliance Services
  • Payroll setup & ongoing processing
  • CRA payroll remittances
  • WSIB, EHT support
  • T4/T4A & year-end payroll filings
  • Payroll compliance advisory
Business Advisory & Virtual CFO Services
(For growing small corporations)
  • Cash-flow forecasting & budgeting
  • Profitability & cost analysis
  • KPI & management reporting
  • Pricing & margin improvement
  • Financial decision support
  • Virtual CFO services (fractional)
    Buying or Selling a Small Business
  • Financial review for buying a business
  • Tax implications of asset vs share sale
  • Sale planning & exit strategy
  • Support with lawyers & lenders
  • Post-transaction tax planning
Note: Advisory focused on small, owner-managed businesses
Corporate Structuring & Growth Planning
  • Holding company (HoldCo) planning
    • OpCo / HoldCo structure advisory
  • Income splitting (where permitted)
  • Passive income planning inside corporations
    • Succession & long-term planning
CRA & Revenue Québec Support
  • CRA correspondence & audit support
  • GST/HST & QST reviews
  • Notices of objection
  • Voluntary disclosures
  • Compliance issue resolution
Our Approach

At Blue Ocean Tax, we take a practical, compliance-driven, and proactive approach to business and corporate tax services. Our focus is on helping small business corporations meet their tax obligations accurately while planning ahead to improve tax efficiency and cash flow.

Our approach includes:
  • Thorough review of financial records and supporting documentation
  • Accurate and timely preparation of corporate tax filings
  • Proactive planning to optimize the small business deduction and owner-manager compensation
  • Clear explanations of tax results and instalment requirements
  • Ongoing support with CRA correspondence, reviews, and audits 

We provide advice that is tailored to the realities of owner-managed businesses, not generic or overly complex corporate structures.

Good corporate tax planning starts with accurate reporting and forward-looking decisions.

Who We Serve
Our business and corporate tax services are designed for:
  • Small business corporations (CCPCs)
  • Owner-managed and family-owned businesses
  • Professional corporations
  • Growing businesses transitioning from sole proprietor to corporation
  • Corporations with multiple shareholders
  • Businesses with inter-provincial or limited cross-border activities
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