When owners consider reorganizing shares, moving assets into a holding company, or combining subsidiaries, careful tax, record-keeping and governance planning matters. Wealthy Wave Accounting Inc. helps business owners in Brampton, Toronto and across Ontario evaluate options, identify trade-offs, and prepare the financial analysis business owners need to decide — delivered from our Brampton and Toronto offices and virtually across Canada (excluding Quebec).
Who this service is for
This service is designed for privately owned Canadian businesses and their owners who are considering one or more of the following: forming a holding company, transferring shares or assets between related companies, simplifying ownership structures for succession, or preparing for a sale or external investment. We commonly work with incorporated small businesses, owner-managed groups with multiple active companies, and professionals who want a tax- and governance-aware approach to restructuring.
Common problems owners bring to a corporate restructuring accountant
- Unclear separation between operating assets and investment/dividend assets.
- Potential personal-liability exposure due to mixing corporate and personal assets.
- Wanting to preserve tax attributes (losses, cost bases) while changing ownership or control.
- Planning for intergenerational transfer or retirement without crystallizing unexpected tax.
- Preparing a group structure that supports dividend flows and inter-company loans, while meeting tax and reporting rules.
What Wealthy Wave Accounting does (practical, non-legal advice)
We provide accounting-led, practical planning and implementation support. Our role typically includes:
- Fact-finding: reviewing corporate minute books, share classes, recent transactions and financial statements.
- Options analysis: delivering scenario modelling to compare after-tax cash, balance-sheet effects and administrative costs of alternatives.
- Tax-feasibility review: identifying whether tax-deferral mechanisms such as certain rollovers, or corporate amalgamation pathways, may be relevant at a high level and what filings or elections could be needed. (We explain concepts like section 85/86 rollovers in overview form; specific elections and legal documents are completed with counsel and any required forms filed with the CRA.)
- Coordination: working alongside your lawyer and insurance or financial-advisors to ensure governance, legal documentation and licensed insurance steps are completed by appropriately qualified professionals.
- Implementation support: preparing accounting workpapers, intercompany bookkeeping, and corporate tax return inputs when the restructuring is implemented.
We do not prepare legal documents or give legal opinions — legal counsel must prepare or review share-purchase agreements, articles changes, or other legal instruments, and licensed insurance professionals must implement insurance solutions.
High-level tax concepts: section 85 and section 86 (overview only)
Certain provisions of the Income Tax Act allow taxpayers to transfer property to or reorganize among corporations on a tax-deferred basis when specific conditions are met. For example, subsection 85(1) permits an electing transfer of eligible property to a taxable Canadian corporation, which can defer recognition of gains if the parties agree on an elected amount and file the required election documentation. Section 86 and related rules can govern share exchanges and amalgamations in certain reorganizations. These mechanisms can preserve cost bases and defer immediate tax but require correct documentation, elections and valuations. For more technical details on elections and departmental guidance, see official CRA publications and folios referenced below. Wealthy Wave will describe these concepts at a high level and identify when they may be relevant — we will not provide transaction-specific tax conclusions without a detailed, facts-based engagement and coordination with legal counsel and other advisers. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic76-19/transfer-property-a-corporation-under-section-85.html?utm_source=openai))
Documents and records we typically need
Bringing clear source documents speeds analysis and reduces surprises. Typical items we request include:
- Corporate minute books and shareholder registers for each related company.
- Most recent financial statements (internal or audited) and year-to-date management reports.
- Tax returns (T2) for the last 2–3 years and notices of assessment, if available.
- Details of share classes, option plans, shareholder agreements and buy-sell arrangements.
- Asset lists (real property, intellectual property, fleet) and recent appraisals if available.
- Descriptions of intercompany debt, guarantees, or security arrangements.
Our process — clear steps with tailored deliverables
Process is disciplined and aims to give owners decision-ready information.
| Phase | What we deliver |
|---|---|
| 1. Intake & document review | Confirm objectives, collect records, preliminary risk checklist. |
| 2. Options modelling | Side-by-side scenarios showing estimated, high-level tax outcomes, cash flow and bookkeeping impacts. |
| 3. Coordination & planning | Project plan and list of legal, valuation and insurance steps required; identification of likely elections or filings. |
| 4. Implementation support | Accounting workpapers, journal entries and deliverables to your tax preparer for T2 and other filings; post-implementation reconciliations. |
| 5. Ongoing review | Periodic checkpoints to confirm the new structure meets cash, tax and governance expectations. |
Practical outcomes you can expect
- Clear comparison of choices so owners can decide whether forming a holding company or using another structure meets their goals.
- A practical project plan that identifies which steps require legal documents, valuations, or licensed professionals.
- Accounting and tax workpapers that reduce execution risk and support any elections or filings that your professional advisers make.
- Reduced chance of unintended tax triggers through upfront identification of issues such as deemed dispositions, attribution rules, or loss access problems.
Why timing matters
Restructuring timing affects tax years, eligibility for certain elections and the preservation of tax attributes. Some elections must be filed by prescribed deadlines and an election that is not filed correctly can create taxable events or lost planning opportunities. In addition, delaying a reorganization can expose you to valuation drift, changes in tax rules, or changes in business circumstances. We help identify time-sensitive steps and coordinate deadlines with your lawyers and other advisers. For information on elections and filing procedures consult CRA guidance and folios. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-businesses/corporation-internet-filing/special-elections.html?utm_source=openai))
How fees and engagement scope work
We offer phased engagements so you pay for defined deliverables. Early-phase planning and modelling typically requires a smaller fixed fee; implementation and ongoing bookkeeping/tax support are scoped separately. We provide a written engagement letter that clarifies deliverables and any areas that require legal counsel or licensed professionals.
Virtual delivery and our office locations
Wealthy Wave Accounting serves owners virtually across Canada except Quebec. We maintain two Ontario offices for in-person meetings when needed:
- Brampton: 181 Queen Street East, Unit #5, Brampton, ON L6W 3A8
- Toronto: Suite 801–802, 36 Toronto Street, Toronto, ON M5C 2C5
To start, use our contact page to book a consultation or call (647) 606-1824. We coordinate with your legal counsel and other licensed professionals to ensure documents and insurance are prepared or implemented by the appropriate experts. For a summary of other services we provide, see our services overview. For corporate filings and returns work, we collaborate closely with our corporate tax returns and tax planning services. Visit /services/, /contact-us/, /services/corporate-tax-returns/, and /services/tax-planning/ for more information.
Next steps — what to bring to your first meeting
Bring the documents listed above and a short statement of objectives (sale, succession, simplification, asset protection, or capital-raising). We will confirm whether a high-level tax-feasibility review is sufficient or whether a deeper, facts-based engagement is required.
Conclusion
If you are searching for a corporate restructuring accountant to help weigh holding-company planning against your business objectives, Wealthy Wave Accounting provides a practical, accountable process that coordinates tax-aware accounting work with legal and licensed-advice where required. We explain section 85/86 concepts at a high level and identify when specialized tax or legal steps are necessary — but do not provide transaction-specific legal advice. Call (647) 606-1824 or book a consultation to begin.
Contact
Wealthy Wave Accounting Inc.
Brampton office: 181 Queen Street East, Unit #5, Brampton, ON L6W 3A8
Toronto office: Suite 801–802, 36 Toronto Street, Toronto, ON M5C 2C5
Phone: (647) 606-1824
Email: chirag@wealthywaveaccounting.com
General information only. Tax, accounting, legal, insurance, and financial outcomes depend on each client’s facts and applicable rules. Professional advice should be obtained before acting.
Frequently Asked Questions
What is a holding company and why would I use one?
A holding company typically owns shares of other companies or investments. Owners use holding companies for separation of operating risk from investment assets, simplified dividend flows, and potential succession planning. The right choice depends on your facts and should be evaluated with tax and legal advisers.
Can section 85 be used to defer tax when transferring assets to a corporation?
Subsection 85(1) of the Income Tax Act can allow an electing transfer of eligible property to a taxable Canadian corporation to defer recognition of gains when conditions are met and a prescribed election is filed. This is a technical election — we provide high-level explanation and identify when it may be relevant; specific elections should be completed with your tax adviser and legal counsel. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/ic76-19/transfer-property-a-corporation-under-section-85.html?utm_source=openai))
Do you prepare legal documents for reorganizations?
No. Wealthy Wave Accounting prepares accounting and tax workpapers and coordinates with legal counsel, who must prepare and review legal documents such as share purchase agreements or amended articles.
Do you serve clients outside Ontario?
Yes. We deliver virtual services to business owners across Canada except Quebec, and we work with Ontario-based clients from our Brampton and Toronto offices.
Will restructuring affect my corporate tax filings?
Potentially. Reorganizations can affect T2 filings, elections and supporting schedules; we prepare the accounting inputs and coordinate with your tax preparer so filings and any required elections are completed correctly. For current filing and election procedures consult CRA guidance. ([canada.ca](https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-businesses/corporation-internet-filing/special-elections.html?utm_source=openai))
How do you charge for restructuring work?
We typically use phased engagements: an initial planning fee for options modelling and a separate scope and fee for implementation and ongoing support. We provide a written engagement letter that describes deliverables and fees.