Here to support you from start to finish
Tax audit support
A review typically takes place BEFORE your tax return has been assessed and will often only address a single line item (like Charitable Donations or Medical Expenses). An audit takes place AFTER your return has been filed and can span multiple years. A few types of audits and reviews we can assist you with include:
- Canada international tax reporting and compliance
- Federal Income tax filings related to C-Corporations, Partnerships and S-Corporations
Stress-free tax audit support
We know that tax audits can be stressful which is why we are here to provide you a simple solution with the help of a tax professional. Get started with the help of one of our dedicated team members today!
What’s Included in Our Audit Support Services:
We provide end-to-end assistance designed to protect you and simplify the process:
Audit Preparation & File Review – Organizing, reviewing, and validating all required documents before submission.
CRA Communication & Representation – Handling correspondence and discussions directly with the CRA on your behalf.
Income & Expense Verification – Ensuring your records, receipts, and claims align with CRA standards.
Issue Resolution & Appeals Support – Identifying discrepancies, preparing explanations, and assisting with objections or appeals if needed.
Post-Audit Review & Future Planning – Providing guidance to strengthen your record-keeping and minimize future audit risks.
Build a Retirement Plan That Works Harder — and Smarter — for You
Tax-efficient income planning
As Canadians, we face some of the highest personal tax rates in the world. That’s why having a tax-efficient retirement income strategy is essential to preserving your wealth. At OBS Tax Services, we don’t just calculate your taxes — we design long-term plans that help ensure more of your income goes to your family and future, not to the Canada Revenue Agency.
The OBS Tax-Efficient Retirement Planning Process:
Why Tax Planning Matters in Retirement:
Understanding RRSPs and RRIFs
Registered Retirement Savings Plan (RRSP):
Your RRSP allows you to defer taxes while you build your retirement savings. Contributions are tax-deductible, and growth inside your RRSP is tax-sheltered until you withdraw.Registered Retirement Income Fund (RRIF):
When you retire, your RRSP transitions into a RRIF — turning your savings into steady income. Withdrawals are taxable, but with smart timing and planning, we can help you draw income efficiently while preserving your tax credits and benefits.
By coordinating RRSP and RRIF withdrawals with your other income sources, we help ensure you don’t pay more tax than necessary — and that your estate transfers efficiently to your family, not the government.
Step 1: Initial Meeting – Understanding Your Income Needs
We begin by learning about your lifestyle and financial goals:
How much monthly income do you need?
What assets, RRSPs, TFSAs, and investments do you hold?
What are your contribution limits or unused carry-forwards?
This meeting gives us the foundation to build a tax-focused plan tailored to your situation.
Step 2: Customized Income Plan
We create a comprehensive income and withdrawal plan that balances current needs with long-term goals.
This plan shows how to draw from RRSPs, RRIFs, pensions, and TFSAs to:
Minimize tax on withdrawals
Preserve government benefits
Extend the life of your savings
Step 3: Review and Coordinate
Once your plan is complete, we meet to review it together.
You’ll receive a clear summary that you can share with your financial advisor, bank, or investment manager to ensure everything works together.
Step 4: Annual Review and Adjustments
Life changes — and so should your tax plan. Each year, we review your income strategy to account for:
Market shifts
New tax legislation
Changes in income, health, or lifestyle
This ongoing partnership ensures your plan remains aligned with your goals and remains tax-efficient throughout retirement.
Tax audit FAQ's
What is an audit? What is a review?
A review typically takes place BEFORE your tax return has been assessed and will often only address a single line item (like Charitable Donations or Medical Expenses). An audit takes place AFTER your return has been filed and can span multiple years.
What will we do?
-Communicate with the CRA on your behalf, including requesting an extension if required.
-Compile all of your documentation into a format accepted by the CRA – this includes any bookkeeping that may need to be done!
-Ensure any changes proposed to your return by the CRA are warranted. If the CRA makes adjustments we feel are unjust, we will file a Notice of Objection when your Notice of Reassessment is received.
-Guide you through the process answering any questions and addressing any concerns as they arise.
What should I do if the cRA contacts me by phone or mail?
-Don’t Panic! Call OBS – We are professionals! If you have received a phone call – ask the auditor for their contact information, including agent ID number. Beware of scam phone calls. Generally the CRA will alert you of an audit by mail.
-Forward all communication from the CRA to our office, as your authorized representatives we will correspond with the CRA on your behalf!
-Gather up all of the documentation the CRA has requested in the engagement letter they have sent and forward it to our office.
-Relax! You are in good hands with Oakbank Tax Services taking care of the audit for you.