In addition to our Analysis and Advisory services, we have cultivated some special skills and tools to better serve our clientele, and to provide them with substantial tax savings. A few examples of these services include:
PHSP – Private Health Services Plan
PHSP’s allow for the medical expenses of
employees, including the owners of the corporation, to effectively be paid for by their employer on a tax free
basis. Many in the marketplace sell ‘cost plus’ PHSP’s, or PHSP’s with premiums to a third party that include a
substantial profit margin. However, we have developed a plan for our corporate clients to run internally, free of
the service costs or profit margins of external plans. We have assisted in setting up internal PHSP’s for most of
our clients.
SRED – Scientific Research and Experimental Development tax credits
This is a
unique area of the corporate tax return that we have been preparing for over 15 years as well. SRED tax credits
are available for clients creating a new proprietary process or product with new technological advancements or
attempts thereof. We have assisted a few of our IT clients & Manufacturing clients in applying for these, and
we have been successful on approximately 95% of the total amounts claimed.
Tax Shelter Review
Many clients have come to us with tax shelter schemes or other
‘tax preferred’ investment scheme’s that we have put to a critical review using our tax experience. Some we have
debunked as contrary to tax law, some we have analysed to be legal, but either not a good investment or not
beneficial tax-wise. Some have been fine from a tax perspective so long as the client was happy with the
underlying investment.
