Review engagements are designed for entities that do not require an audit opinion to meet their needs but want more assurance that is provided with a compilation engagement. Many owner-managed entities do not need an audit engagement but do require some limited assurance on the annual financial statements for presentation to the bank or as required by Corporate Affairs.

 Taxes are ever changing and tax returns in Canada are dynamic on a year by year basis. Many people find it challenging on how to calculate tax correctly or ask themselves how much will I pay. Whether it is filing an individual tax return or a corporate tax return, mistakes can easily be made and incorrect returns filed. Incorrect returns face the risk of being audited and reassessed, and CRA will not hesitate to impose heavy penalties and interest on amounts owing. It can take hours going through records and paperwork to correct any mistakes. This will result to an even greater stress and burden to you as a taxpayer. The risk of being audited can also be expensive and time-consuming. There is also an even greater risk in missing-out on opportunities to claim more credits and refunds.

At Estrada & Tan, we are your own income tax calculator and we are committed to providing expert knowledge and advise in the preparation of your individual or corporate tax returns based on current tax rules and regulations. Our tax professionals are dedicated to helping our clients meet their needs and resolve their tax issues in a timely manner.

Personal Tax:

February and March are usually the time when most individuals look for a personal tax accountant. Estrada & Tan can assist you in completing and filing your personal income tax return. We will ensure that your personal tax return is filed on time and finding you tax credits (i.e. various child tax credits) available to you.

 The filing deadline for an employed taxpayer is on April 30. If you owe any taxes in the previous calendar year, payments should be made on April 30. If you are self-employed individual, the filing deadline to submit your personal income tax return is on June 15. While if there any taxes owing in the previous calendar year, payments should be made well before the June 15 filing deadline, which should be on April 30.

Corporate Tax Return:

The field of corporate income taxation is changing rapidly and it is important to have knowledgeable professionals on your side to assist you in complying with new tax rules and regulations.

As your corporate tax accountant, we will ensure you will file your return no later than six months after the end your corporation's tax year. Even though the filing deadline of the return is six months after year-end, any corporate tax owing are generally due two months after the end of the tax year. Additional conditions in accordance with the Income Tax Act should be met in order to be eligible for the three months payment deadline.

Payroll and GST:

CRA remittance requirements for both payroll and GST could sometimes get complicated and tedious due to the fact that there are numerous tax rules and regulations that needs to be complied with.

As your tax accountant, we can assist you in the accurate computation and filing of your payroll remittances and GST return. These will result in lesser CRA audits due filing and remittance errors. We will be there to assist you with CRA queries and follow-ups including the filing of your T4 summaries.

Trust Tax Return:

The due date for filing T3 return depends on the trust's tax year-end. You have to file the T3 return, the related T3 slips, NR4 slips, and T3 and NR4 summaries no later than 90 days after the trust's tax year-end. Payment should also be made on any balance owing no later than 90 days after the trust's tax year-end.

As you accountant, we will make sure that all tax rules and regulations unique to a trust return are all met. This includes maximizing your tax return while being compliant with Canada Revenue Agency's requirements.

Let Estrada & Tan get rid of the headache of filing your tax returns by either letting us act as your corporate tax accountant or by allowing us to provide corporate tax services in Vancouver, Whitehorse and neighbouring cities in BC and YT. ​​Our accountants of educated and experienced professionals will ensure you file your tax returns that will result in the least amount taxes payable. Please contact us:

You can also call us at 604-369-1868/778-952-8255 for Vancouver or 867-334-8634 for Whitehorse to book an appointment today.

Yukon Umbrella Final Agreement

The Umbrella Final Agreement was reached in 1988 and finalized in 1990. It is the overall "umbrella" agreement of the Yukon Land Claims package and provides for the general agreement made by most settled Yukon First Nations in a number of areas. The Umbrella Final Agreement contains several main topics from which all remaining topics flow. These include land (Chapter 9), compensation monies (Chapter 19), self-government (Chapter 24), and the establishment of boards and committees and tribunals to ensure the joint management of a number of specific areas. 

While the Umbrella Final Agreement provides a framework within which each of the 14 Yukon First Nations will conclude a final claim settlement agreement, all provisions are a part of each First Nation Final Agreement. The Final Agreements contain all of the text of the Umbrella Final Agreement with the additional of specific provisions which apply to the individual First Nation.

Final Agreement

The First Nation Final Agreements comprise the actual legal agreements made by the three parties, the Federal Government, the Government of the Yukon, and the individual First Nation. The Final Agreements designate settlement lands and deal with matters of economy, wildlife, land and resource management, and other matters such as heritage.

Self-Government Agreement

As each First Nation reaches their Final Agreement, they also reach a Self-Government Agreement. This agreement emerges from Chapter 24 of the Umbrella Final Agreement and lays out the powers, authorities and responsibilities of the individual First Nation government. Under this agreement, the First Nation has the power to make and enact laws in respect of their lands and citizens, to tax, to provide for municipal planning, and to manage or co-mange lands and resources. Each First Nation will have a constitution in place which contains the membership code, establish governing bodies and provides for their powers, and protects the rights and freedoms of the citizens.

The First Nations Financial Transparency Act creates the following new requirements for each First Nation that is a band as defined in subsection 2(1) of the Indian Act (unless it is a party to a comprehensive self-government agreement given effect by an Act of Parliament):

• Each First Nation must publish on its Internet site both its annual consolidated financial statements and a schedule of remuneration and expenses that sets out the remuneration paid and the expenses reimbursed to its Chief and each of its Councillors for the fiscal year, within 120 days after the end of the financial year.
• The Act applies in respect of every financial year beginning after the day on which the Act came into force.
• The Act does not require either the First Nation or AANDC to publish schedules of remuneration and expenses of First Nation officials other than Chiefs and Councillors. However, First Nations are still required to submit Annex C "Schedule of Remuneration and Expenses (Unelected Senior Officials)" to AANDC as before.

At Estrada & Tan we have extensive experience working with First Nation governments to complete and comply with their reporting requirements. These reporting requirements could be quite different to a "settled" First Nation government from a First Nation government not exempted under the First Nations Financial Transparency Act . 

We have deep understanding as to the agreements, laws and regulations governing its activities. Our thorough understanding of the unique intricacies in which a First Nation government operates makes us a valuable asset to their organization. We have made numerous advise and recommendations in the improvement of processes and controls with the goal of further improving the programs and services to their members and citizens.