Accountant for wealth management

In Quebec, wealth management almost always involves a management company: retained earnings in the operating company, intercompany dividends paid to the management company, rental real estate, investment portfolios, and sometimes a family trust created from a frozen estate. Every decision, whether to withdraw funds, reinvest, sell, or transfer assets, carries a different tax cost, and the rules governing the CDA, the RDTOH, or the small business deduction leave no room for improvisation.

An accountant who specializes in this sector keeps your tax records up to date, coordinates with your tax advisor, notary, and financial planner, and transforms your structure into a concrete plan for disbursement and succession. We’ll introduce you to the right accountant for this sector, for free, for as long as you need, and we’ll stay by your side. No obligation.

• Choosing the right structure: a sole management company, a holding company above the operating company, or a discretionary family trust created from a frozen estate.
• Monitor passive investment income: if it exceeds $50,000 per year, it erodes the operating company’s $500,000 business limit (reduced to $150,000).
• Dealing with a tax rate of over 50% on investment income earned by the company, which is partially refundable through the RDTOH upon the payment of dividends.
• Contribute to and document the CDA (tax-exempt portion of capital gains and life insurance proceeds) in order to pay tax-free capital dividends.
• Balance your salary and dividends (fixed or ordinary, as defined by the CRTG) while taking into account your RRSP, QPP, and cash flow needs.
• Planning for succession: estate freeze, deemed disposition of trusts at age 21, estate tax, and post-mortem strategies (pipeline).
• Coordinate the accountant, tax specialist, notary, and financial planner to provide a comprehensive overview, with a clear disbursement schedule.

• File the federal T2 and Quebec CO-17 forms for each company in the group within 6 months of the end of the fiscal year, including tax instalments where applicable.
• Keep tax records up to date: CDA (select forms T2054 and CO-502 before each capital dividend), RDTOH, and dividend refunds.
• Prepare T5 forms and Statement 3s for dividends paid to shareholders by the end of February at the latest.
• File trust returns: T3 and TP-646 within 90 days after the end of the year, including the expanded beneficial ownership disclosure (Schedule 15).
• File Form T1135 if the cost of foreign property exceeds $100,000.
• Documenting Intercompany Dividends: Part IV tax (38.33%) on portfolio dividends, anti-avoidance rule 55(2), rollovers (T2057).
• Verify GST/QST status: Most holding companies are not required to register (investment income is exempt), and any ITR or ITC claimed must be substantiated in accordance with the rules specific to holding companies.

Is a holding company right for me? It depends on your assets, your income, and your succession planning goals. A holding company often becomes a viable option when surpluses accumulate in your operating company or when investment income approaches the $50,000 threshold that reduces the small business deduction. An accountant in the sector will compare the scenarios with you: we’ll connect you with the right accountant, as many times as needed, at no cost.

How can I reduce the tax on my investment income? In a corporation, investment income is taxed at a rate of over 50% in Quebec, but a portion is refundable through the RDTOH when dividends are paid. Your accountant will plan your holdings, the CDA, intercompany dividends, and tax deferral based on your specific situation. We’ll connect you with the right accountant for this sector, as often as needed, at no cost.

How much does an accountant cost in this sector? According to the Bankeo Fee BarometerBased on 1,248 real-world cases (2024-2026), the median fee for an accountant in Quebec is around $3,000 per year, ranging from $500 to $6,000 depending on the industry and complexity of the work. The Bankeo matching service is free: you pay your accountant directly at standard market rates.

How can I switch accountants for my management firm without causing too much disruption? We retrieve your past tax returns, your CDA and RDTOH account balances, and your financial statements, then we coordinate with your new accountant to ensure nothing is lost. You choose the timing, often once the current fiscal year’s financials have been prepared. We’ll introduce you to the right accountant for your industry, for free, as many times as needed, and we’ll stay by your side throughout the process.

Is it better to have a local accountant or a remote accountant manage my assets? What matters is expertise in management company taxation and business succession, not distance. Many accountants in the industry are highly effective at handling cases remotely throughout Quebec, and we can also connect you with someone near you if you prefer in-person contact. We’ll match you with the right professional based on your specific situation, for free.

Should my accountant also handle my family trust? Ideally, yes, because the trust’s T3 and TP-646 forms, the deemed disposition at age 21, and the dividends passing through the trust must be coordinated with your corporations. An accountant who sees the big picture avoids gaps in coordination between the management company, the operating company, and the trust. We’ll connect you with the right accountant for this sector, as often as needed, at no cost.