Numerax Tax & Accounting

One thing we’ve noticed while working with small business owners is that accounting often gets pushed to the bottom of the list. That’s where we can help.

At Numerax Tax & Accounting Services, we work with small businesses on:

• Corporate tax returns (T2)
• GST/HST filings
• Bookkeeping and accounting
• CRA reviews and correspondence

If your books are behind, a filing is coming up, or you’ve received a letter from CRA and aren’t sure what to do next, feel free to reach out.

Sometimes having someone take care of the numbers gives you one less thing to worry about.

📞 672-699-8881
📧 [email protected]

Received a letter from CRA asking for documents?

I see this quite often. CRA may ask for receipts, invoices, bank statements or other documents to support something that was reported on your tax or GST/HST return.

Getting a review letter doesn’t automatically mean there is a problem. But before sending anything, make sure you understand what CRA is actually asking for and what period they are reviewing.

A few things I normally suggest:

* Check the deadline on the letter
* Gather only the documents related to what CRA is reviewing
* Make sure the numbers match what was reported on the return
* Keep a copy of everything you submit
* Don’t leave the letter unanswered

If you received a CRA review letter and you’re not sure what they’re asking for, feel free to reach out. I’m happy to take a look and guide you on the next steps.

Sukhpreet | Numerax Tax & Accounting
Based in BC and working with clients across Canada.

Bought something personally for your corporation? Don’t automatically leave it out of your books.

A common situation I see with small business owners:

You buy a business expense using your personal credit card because the corporate card wasn’t available.

Many owners assume: “It didn’t come out of the business bank account, so I can’t claim it.”

That’s not necessarily the case.

If it was a legitimate business expense and you have proper supporting documentation, it can generally still be recorded in the corporation’s books.

Instead of treating it as though the corporation paid for it directly, the amount may be recorded as money the corporation owes you (for example, through the shareholder loan account).

This is also why simply downloading the corporate bank transactions at year-end doesn’t always capture the full picture.

Good bookkeeping includes more than what went through the business bank account.

Follow Numerax Tax & Accounting for more tips

🇨🇦 GOOD NEWS FOR CANADA RESIDENTS! 🇨🇦

3 CRA-administered benefit payments are coming in September!

THE BENEFITS:

🔹 OTB – Ontario Trillium Benefit
🔹 CCB – Canada Child Benefit
🔹 NLDB – National Long-Term Care Benefit

PAYMENT DATES:

📅 September 10
📅 September 18
📅 September 25

Updated 2026–27 amounts may apply to eligible recipients. Make sure your CRA filing and information are up to date!

Follow Numerax Tax & Accounting Ltd. for tax, CRA and business updates.

A business owner thought he owed CRA almost $18,000 in GST.

He was ready to pay it.

Then we reviewed his books.

We found GST on equipment, software, operating expenses, and purchases paid personally had not been properly recorded.

His books showed the GST he collected — but were missing a significant portion of the GST he had paid.

After reviewing the transactions, reconciling the accounts, and correcting the records, his actual GST obligation was thousands lower.

No loopholes.
No aggressive tax planning.

Just accurate bookkeeping.

Your accounting software is only as accurate as the information going into it.

Bad bookkeeping doesn’t just create messy reports. It can cost you real money.

🚨 **Incorporated your business? Your corporation’s money is NOT automatically your personal money.**

This is one of the most important things new corporation owners should understand.

Your corporation is a **separate legal entity**.

So if your company earns $100,000, that does not mean you personally earned $100,000 or can simply transfer the money to yourself without considering how it should be recorded.

Money you take from the corporation could potentially be:

💰 Salary
💰 Dividends
💰 Reimbursement of business expenses
💰 Repayment of money you previously put into the company
💰 A shareholder loan

And the tax treatment can be very different depending on what it actually is.

For example, repeatedly transferring money from your corporate account to your personal account and simply calling it a “withdrawal” can create bookkeeping and tax problems later.

📌 **Good habit:** Keep your corporate and personal finances separate and properly record money moving between you and your corporation.

Incorporation can provide great benefits — but only when the corporation is managed properly.

**Numerax Tax & Accounting Ltd.**
Corporate Tax • Bookkeeping • GST/HST • Payroll

📞 672-699-8881
📧 [[email protected]](mailto:[email protected])

Have a corporation and unsure how you should be paying yourself? Feel free to message us.

Call now to connect with business.

Can you claim expenses you paid before your business officially started? 🤔

You might be surprised **some expenses paid before your business officially begins may still be deductible.**

For example, you may have spent money on:

• Business registration or incorporation
• Professional or legal fees
• Website and branding
• Equipment and supplies
• Advertising and marketing
• Other costs incurred to get the business ready

But not every expense automatically qualifies. The timing, purpose of the expense, and type of cost matter, and some purchases may need to be treated as capital assets rather than deducted all at once.

Starting a business? Keep your receipts from before your first sale too, they could matter at tax time.

**Numerax Tax & Accounting Ltd.**
📩 Message us for business tax, bookkeeping & accounting support.
Call us at 672-699-8881