Corporate Planning Initiative for Tax (CPIT)

Overview of the Corporate Planning Initiative for Tax (CPIT) program:

The CPIT program aims to bridge the gap between advanced corporate tax planning and accessibility for small and medium-sized businesses. Often, sophisticated tax-saving strategies are reserved for large corporations or high-net-worth individuals due to their complexity and cost. CPIT democratizes this process, empowering Canadian businesses in Alberta, British Columbia, and Ontario with the tools and funding needed to develop and implement effective tax strategies. The program provides funding in two stages: Tax Planning Services: Up to $15,000 to cover the cost of working with a CPIT-approved tax advisor to create a customized corporate tax plan. Corporate Tax Credit (CTC): A grant ranging from $5,000 to $50,000 awarded upon successfully implementing the developed tax strategy. Eligible businesses can use the funding to explore and implement tax-efficient financial structures, such as holding companies, trusts, corporate insurance programs, and other tax-incentive programs. With long-term savings potential exceeding $250,000, the program is ideal for businesses seeking financial optimization. CPIT’s mission is not only to reduce tax burdens but also to ensure Canadian businesses remain competitive, sustainable, and financially sound.

Benefits of the Corporate Planning Initiative for Tax (CPIT) program:

• Expert Guidance: Collaborate with CPIT-approved tax advisors to develop tailored tax plans.
• Financial Support: Receive substantial funding to cover the costs of tax planning services and implementation.
• Long-Term Tax Savings: Potentially save over $250,000 through tax-efficient strategies.
• Improved Cash Flow: Lower tax liabilities enhance financial flexibility and operational capacity.
• Compliance and Efficiency: Streamline financial structures while ensuring compliance with Canadian tax laws.

Eligibility criteria of the Corporate Planning Initiative for Tax (CPIT) program:

• To qualify for CPIT, your business must meet the following criteria:
• Be a Canadian-owned private for-profit corporation.
• Be a corporate tax residence of Alberta, British Columbia, or Ontario.
• Have been operational for at least 2 years.
• Show a net corporate income of $150,000 or a liquid net worth of $750,000.
• Applicant must be a Director of the corporation
• Business must demonstrate a positive track record of financial stability and growth