Through getting to know your family and its unique structure, such as each family member’s asset distribution and income stream, we are able to tailor a plan most suitable to your family dynamic, whilst protecting your hard earned assets, within the confines of the laws governing Taxation worldwide.
The following are some pillars of which we can discuss during our initial consultation:
- According to each client’s current asset makeup, we are able to provide professional taxation advice on how to maximize your tax saving and optimize and develop a tax structure to make your investments more profitable.
- Protecting your assets and set up proper channels for legacy leaving through numerous protective measures such as Life Insurance, Wills, Family Trusts, etc.
- Providing you with in depth knowledge and advice about all taxation changes and trends worldwide, which in turns will assist you in determining the course of action required to best safeguard your hard-earned wealth.
With proper tax consultation, we are able to help clients obtain the greatest savings and optimize on the returns on their investments. At Markham Centre Financial, our tax experts work around the clock to ensure we offer peace of mind to our clients regarding their financial planning and taxation needs.
The business of managing assets
on behalf of others
Development of Family Office
Effectively transferring established wealth across generations is a top priority for our highly affluent clients. As such, at Markham Centre Financial, we are equipped with the expertise necessary to provide advice in centralizing the management of a significant family fortune and manage all necessary components, such as investments, taxes, philanthropic activities, trust and legal matters, in order to ensure the success of this establishment.
Foreign Asset Reporting
Since 1998, Canadian taxpayers (individuals, corporations, partnerships and trusts) have been required to file Form T1135, Foreign Income Verification Statement, to report all specified foreign property owned during the tax year if the cost of such property exceeds $100,000. Not only so, the government’s reach is also extending beyond taxpayers through implementation of the Common Reporting System (CRS) requiring financial institutions in Canada to identify accounts held by non-residents and to report information such as income and sale proceeds to the CRA. Properly declaring such foreign assets and its revenues will assist taxpayers in obtaining peace of mind in ensuring that there will be no future tax liabilities or worries for the taxpayer to bear. At Markham Centre Financial, our team is here to help you understand your responsibilities, as well, help you properly declare these assets to offer you peace of mind as you transition into your new life in Canada.
Financial Management System
At Markham Centre Financial, we are prepared to provide unique Financial and Accounting Services to Corporations, such as: Internal Audit and Risk Management, Budget Analysis, Set up of Financial Controls, Tax Planning and Reporting, Investment Management, Financial Analysis, Training of employees on maintaining ordinance, Compliance Measures Development, Bookkeeping, etc. to ensure the sound adherence to the protocols in place to safeguard your Corporation’s Finances.
Personal Taxation Services
At Markham Centre Financial, we work closely with our clients to understand their specific needs and adjust our strategies accordingly. Our Tax Managers take a proactive, hands-on approach and work closely adhering to existing and proposed legislation to determine how it will affect our client’s individual financial goals and provide ongoing guidance on topics such as tax compliance, family tax minimization, retirement planning and asset protection. Whether you are a full-time employed individual; a self-employed individual; or a business owner, we have a full suite of professional advice ready to assist you in properly reporting your taxes, while ensuring you are obtaining the most tax credit available to your current situation.
Corporate Taxation Services
With constant changes on rules and regulations surrounding corporation taxation, it becomes difficult for business owners to keep up with all the new information and may risk non-compliance with tax regulations, which may result in hefty fines and audits that all business owners will wish to avoid. At MCF, our goals are to minimize the risk of non-compliance for our clients, while maximizing value for our clients through positioning of their companies for Future Growth. Throughout all stages of growth for corporations of all size, we provide a full range of integrated services, including but not limited to: preparation and filing of corporate income tax returns, corresponding with federal and provincial authorities on the client’s behalf, keeping clients abreast with knowledge regarding the latest tax legislations, review on the effectiveness of client’s business structures, identify opportunities to minimize tax burden while effectively leveraging all tax credits available to our clients.
Business Incorporation Services
Want to avoid the headache in understanding the steps of incorporating your Company on your own? Allow our professional at Markham Centre Financial to assist you in the process from the start – from completing the Corporation Name Search and Reservation online, to walking you through the entire Incorporation process such as obtaining your Article of Incorporation and Business Number, drafting company by-laws, etc., our team of experts will ensure the process is clear and smooth for you. Incorporating your business allows many advantages: establishment of a separate legal entity, limiting personal liability, lowering of your personal tax rate and improving your access to grants and additional capital that corporations are entitled to.
Trust, Estate and Succession Planning
When it comes to developing a succession plan and having to have those tough conversations about the future, our experts at Markham Centre Financial is equipped with the professional knowledge necessary to guide our clients in identifying, from start to finish, on what matters most. Our experts will learn about each family’s background and needs to tailor a comprehensive estate and succession plan for current and future generations that allow for long-term wealth preservation. Real life never stops changing – hence we are ready to help our clients through such changes and provide our recommendation throughout the way to accommodate for such changes should they arise. Our number one priority in this entire process is to seek out effective channels, such as establishment of a family trust, business transition and thorough estate planning services, to minimize tax burdens and create peace of mind for our clients.