The services of accountants in Vancouver are designed to cover the needs of both large and small and medium-sized enterprises (SMEs); the accounting services required for each of these categories can vary, as there are various obligations companies have to abide by, depending on their turnover and number of employees; the company type can also be influence the mandatory services.
This is why our Vancouver accounting team has prepared a set of accounting services suitable for each company type; at the same time, individuals can address to us for personal accounting advice, such as submitting personal tax returns and other documents. If you want to open a company in Canada in the city of Vancouver, you will definitely need the services of local accountants and, in order to have a clear image on what such services may refer to, we invite you to read the following article.
When can individuals need Vancouver accounting services?
If you are not planning to open a company in Canada and you simply want to relocate to the city of Vancouver, this means that your tax residency will be established in this city, after you complete all your immigration formalities. If you become a tax resident here, then you may need the services of our Vancouver accounting team or, at least, consultancy services and information on your tax obligations and the forms you have to prepare in this sense.
Of course, our team can also represent local residents and citizens who want to know more on their tax benefits or on the manner in which they can reduce the level of taxation, by applying various tax minimization schemes which are regulated under the local law.
Considering that the tax laws, obligations and rights, deductions, exemptions and others create a complex structure that can become overwhelming for persons who do not have a legal, financial or accounting background, our Vancouver accounting team can create a suitable plan, based on your financial situation, tax obligations and others.
For natural persons, our team can also help in the accounting formalities applicable when operating through a sole trader. Provided that you have completed the procedure for company formation in Canada for a sole trader, you can contact our team as soon as possible to find out how to prepare your tax forms and how to benefit from other tax rules applicable for this structure.
Besides these, individuals can receive advice and assistance on the following: preparing the personal income tax returns, creating a financial plan for your retirement, tax planning for matters related to succession and inheritance, receiving information on the forms that are customarily completed by individuals and other similar matters.
What are the highlights of the Vancouver accounting profession?
Vancouver is a city located in British Columbia (BC). The Vancouver accounting profession is regulated by the Chartered Professional Accountants of British Columbia. Below, you can find few details concerning this profession – the number of persons involved in the industry, the average salary, the demand for accountants and others:
- the institution has more than 37,000 members in Vancouver and British Columbia;
- by 2029, it is estimated that the industry will grow by 40,000 new members;
- at a national level, the average salary of a chartered professional accountant is of $74,000;
- in British Columbia, the average salary is of $104,000;
- the profession is regulated under the National Occupational Classification NOC 1111, under the financial auditors and accountants.
How can our Vancouver accounting team help companies?
If you have completed the steps for company registration in Canada in the city of Vancouver, you will have to find an accountant or a team of accountants (this can depend on the work volume that is expected, and this can be influenced by the size of the company, the number of operations and the number of employees).
Some of the basic services for corporate entities are the following: developing accounting activities related to the corporate income tax returns, preparing the income tax returns, preparing the documents for goods and services tax and preparing any other documents that have to be submitted with the local tax authorities.
Our team can also help with in-depth accounting services in the process of corporate reorganization; accounting procedures will be done in accordance with the rules stipulated by the Canada Revenue Agency. For more details on other accounting services available in Vancouver, we invite you to contact our team of consultants in company formation in Canada.