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Davidson & Company LLP

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Calgary, AB
Davidson & Company LLP

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Accounting, consulting, and tax services to keep your business running.

07/02/2026

It’s official!

We’re now Davidson. And we couldn’t be more excited.

After months of work behind the scenes, our Calgary team is stepping forward as part of something bigger. One team. One direction.

More expertise. More collaboration. More ways to solve problems in smarter ways.

Davidson, let’s get to work.

06/30/2026

A low appraisal doesn't automatically mean a low tax bill.

In a recent case, a shareholder sold a cottage — constructed by his corporation for over $1.2 million — to his sons for $700,000. An appraisal supported the lower value. The court rejected it entirely.

The appraisal was prepared specifically for a related-party transaction, the appraiser didn't testify, and the property later sold in 2022 for $1.775 million. Without credible FMV evidence, the court accepted CRA's calculation — the shareholder benefit was assessed as the difference between construction cost and the sale price.

Where documentation doesn't hold up, the numbers CRA uses tend to be less favourable. Geib & Company can help ensure valuations are reliable before any related-party transfer takes place.

06/25/2026

Your corporation owned the cottage. CRA still treated it as yours.

A 2026 Quebec court case reviewed a corporation that owned a cottage used primarily by the shareholder and his family. When the corporation later sold it at a loss, CRA denied the capital loss — because losses on personal-use property are not deductible, even when the property is owned corporately.

The court focused on actual use, not stated intention. Utility bills in personal names, insurance coverage described as a secondary residence, and internal reports referencing a future family home all pointed to personal use. The investment purpose the corporation had claimed didn't hold up.

Geib & Company can help review how corporate-owned assets are being used and what tax consequences may follow.

06/23/2026

CRA can go back further than you think — and the standard isn't fraud.

CRA is generally limited to reassessing returns within a set timeframe. That protection disappears when there is a misrepresentation, even one that wasn't intentional. Carelessness and indifference are enough.

In multiple recent cases, courts have upheld reassessments years outside the normal period because of inaccurate filings — whether from negligence, overwhelmed accounting staff, or undocumented transactions. The taxpayer does not need to have acted dishonestly. Failing to take reasonable care is sufficient.

Geib & Company can help ensure your filings are accurate and defensible from the outset.

06/18/2026

Being a CA didn't protect him. His own accounting systems did.

A 2026 Tax Court case assessed over $6.4 million in unreported revenue after CRA used bank deposit analysis to identify the gap. The owner — a commerce graduate with a CA designation — assumed his software was converting foreign currency into Canadian dollars. It wasn't.

The court found that both the owner and his one accounting employee were overwhelmed with work, yet no additional help was brought in. That choice — not the error itself — was treated as indifference to tax compliance. Gross negligence penalties were upheld, and CRA was permitted to reassess beyond the normal period.

Geib & Company can help ensure your accounting systems and support are sufficient to meet CRA's standards.

06/16/2026

Renouncing US citizenship just got significantly cheaper.

US citizens are required to report worldwide income to the IRS, even if they have lived in Canada for decades. As of April 13, 2026, the renunciation fee dropped from $2,350 to $450 — removing one of the more visible practical barriers for dual citizens considering this step.

The lower fee is only one piece of the picture. Renunciation carries significant legal and tax implications that need to be reviewed carefully before any decision is made.

Geib & Company can help assess the cross-border tax consequences before taking action.

06/11/2026

Agricultural operators: the full cost of a new greenhouse may be deductible right away.

The federal government has proposed allowing 100% immediate expensing for greenhouses, retroactive to November 4, 2025. Rather than depreciating the cost over time, the full amount could be claimed in the year of acquisition.

The retroactive date means structures already built may qualify. Timing and eligibility requirements still apply, and the proposal has not yet been enacted into law.

Geib & Company can help determine whether your investment qualifies and how to structure the claim.

06/09/2026

Paying employees to drive their own vehicle for work? The tax-free rate just went up.

For 2026, the non-taxable allowance for business use of a personal vehicle increases to 73 cents per kilometre for the first 5,000 km, and 67 cents for each additional kilometre.

Allowances paid at or below these rates are tax-free to the employee. Pay above them, and the excess becomes taxable income. Many employers set their rates once and forget to update them — which can create unintended tax consequences for staff.

Geib & Company can help ensure your vehicle policy reflects current CRA rates.

Address

1020, 10201 Southport Road SW
Calgary, AB
T2W4X9

Opening Hours

Monday	8am - 5pm
Tuesday	9am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Telephone

+14032594519

Website

https://calgary.davidson-co.com/

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