Bokhaut Chartered Accountant Inc.
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Tax Planning and Preparation

"You must pay taxes but there's no law you have to leave a tip."
– Morgan Stanley

Our physicians want to feel secure:
That they have been provided with effective tax planning strategies to minimize their tax obligations.

That these strategies are well conceived and within regulatory deadlines. This provides them with the comfort that the chance of further verification by Canada Revenue Agency is minimized; and in the case of further verification, that the strategies are defendable and the chance of reassessment and penalties is minimized.

That to the extent possible, the associated administrative burden is diverted to their accountant so that they can enjoy their free time.

That they understand the tax strategies employed on their behalf, and are cognizant of the general tax issues related to their circumstances.

That their affairs are planned in such a way that adequate funds are available at the end of their taxation year (corporate and personal) to pay their taxes, so there are no 'surprises'.

Our tax services include:
  • Preparation of corporate, personal and trust tax returns for doctors and their families.
  • Corresponding directly with Canada Revenue Agency on all tax matters including audits and appeals
  • Determining whether or not a physician should incorporate their practice
  • Structuring the medical corporation to optimize tax benefits
  • Corporate reorganizations
  • Determining whether or not a holding company should be established
  • Estate planning
  • Structuring tax efficient plans for ownership of real estate and investments
  • Assessing the tax ramifications of contracts with Health Authorities and other parties to whom physicians provide services
  • GST services for physicians who must collect GST on services provided
  • Tax planning for medical income earned by a doctor in multiple provinces
  • Tax planning for transferring medical practices from one province to another
  • Tax planning for dividends to non residents