Ownership follows professional rules.
The profession and the province decide who can hold shares in a professional corporation. Each buy-in, retirement, or family arrangement changes the cap table, and the dates matter.
Ownership and share classesHealthcare and professional groups
The practice looks simple. The structure behind it isn’t.
Dental, medical, veterinary, and pharmacy groups often run on professional corporations, a clinic company, a management company, and a property company. TaxDesk shows how they connect, keeps each company’s tax records separate, and remembers who owned what, and when.
Built for Canadian corporations Works with your external accountant
A typical practice group
Illustrative structure
- Ownership
- Intercompany activity
IndividualsOwnersPractitioners and familyCap tableEffective dates
Management companyManagement Co.Admin and servicesGST/HSTPayrollOwned by Owners · Owners
Property companyProperty HoldcoOwns the premisesSch. 8 · UCCOwned by Owners · Owners
- Management Co. → Professional Corp.management fee
- Property Holdco → Clinic Inc.rent
Sound familiar?
Where it gets hard.
- 01
An associate buys in, or a partner retires.
Without a shared recordOwnership lives in the minute book and someone’s memory. The date and share class get rebuilt from old emails.
In TaxDeskEvery ownership change is recorded with its date. See the structure as of any day, and who held what.
- 02
The group buys another practice.
Without a shared recordA new professional corporation and clinic company arrive with their own returns, balances, and CRA accounts. Nobody has the whole picture.
In TaxDeskUpload the seller’s returns and notices. TaxDesk links each fact it finds to its source. You decide on anything that conflicts with the record.
- 03
The office manager leaves, or the accountant changes.
Without a shared recordKnowing which company files what, and why, leaves with them.
In TaxDeskThe structure, deadlines, and history stay with the company. Invite the next person, or the next advisor, to the same record.
Why it gets complicated
A small practice can have a complicated tax record.
Practices are structured this way for good reasons. The result is several companies with different tax profiles that have to stay consistent.
Each company has its own tax profile.
The practice, the management company, and the property company often hold different CRA accounts. Registrations and filing settings can differ across the group, and each belongs on its own record.
GST/HST operating guideMoney moves between related companies.
Management fees, rent, dividends, and shareholder loans all pass between the companies. Each side’s records should agree, and each side needs its documents.
Shareholder and intercompany loansTax balances build up inside each company.
CDA, RDTOH, and GRIP balances grow company by company. Dividend planning depends on them, and their history is hard to rebuild.
CDA, GRIP, RDTOH and lossesThis is general information, not tax or legal advice. Ask your accountant how these rules apply to your group.
Inside TaxDesk · Ownership
Who owns what, class by class.
Shareholders, share classes, shares, ownership percentages, and adjusted cost base are listed for each company. Ownership changes come from recorded share transactions, not from overwriting a number.
- Shareholders and share classes on each company
- Ownership percentage and ACB from recorded transactions
- Roles and notes alongside
- 1Ownership, governance, and notes sit on the entity
- 2Changes come from recorded share transactions
- 3Shares outstanding, total PUC, and share classes
- 4Shareholders, classes, ownership percentage, and ACB
Ownership over time
Who owned what, and when.
A cap table is a timeline. Here’s how a professional corporation’s ownership might change over a decade, and why every date belongs on the record.
- 100%Incorporated
- 70%30%Associate buys in
- 50%30%20%Second associate joins
- 60%40%Founder retires
Illustrative. Each change is saved with its date, and you can view the chart as of any of them.
Inside TaxDesk · Tax balances
The balances behind every dividend.
CDA, ERDTOH, NERDTOH, GRIP, and safe income are kept for each company, with an as-of date and a source. Open the dated history behind any balance.
- Balances with as-of dates and sources
- Loss pools with the amount remaining
- Dated history behind every balance
- 1CDA, ERDTOH, and NERDTOH, each with its balance
- 2Each balance carries an as-of date and its source
- 3Open the dated history behind any balance
- 4Balances built from dated entries, drawn as a running history
What’s in the record
The structure stops living in someone’s memory.
TaxDesk shows how your people and companies connect, and keeps each company’s tax work on its own record. Your administrators and outside accountants work from the same information.
- Practice and company details
- Ownership and effective dates
- GST/HST and payroll settings
- CDA, RDTOH, and GRIP history
- Losses and dividends
- Returns and supporting documents
Who does what
Returns and filing
YouYou or your accountant prepare and file the way you do today.
TaxDeskTaxDesk records the status, dates, and documents behind each filing.
CRA accounts
YouYou enter each company’s CRA accounts and filing settings.
TaxDeskTaxDesk turns them into due dates. It doesn’t connect to CRA.
Changes
YouYou decide when a document disagrees with the record.
TaxDeskTaxDesk links each fact to its source. A fact that conflicts with your records waits for your approval.
Who it is for
Especially useful when one person can no longer track the whole group.
- Dental and medical clinic groups
- Veterinary and pharmacy groups
- Professional practices with several corporations
- Practices working with outside accountants
What it doesn’t do
TaxDesk keeps the corporate tax record. It doesn’t store patient charts, manage clinical operations, give tax advice, or prepare returns.
Free tools and guides
Run the numbers first.
Calculators and guides for groups like yours. They’re planning aids, not tax advice.
Common questions
Know where TaxDesk fits.
How do we organize taxes for a professional corporation, a clinic company, and a management company?
Give each company its own record and connect them through ownership. TaxDesk keeps each company’s CRA accounts, filings, tax balances, documents, and history separate, and one workspace shows how they fit together and what’s due across them.
Can it keep professional and management companies separate?
Yes. Each legal entity has its own profile, deadlines, documents, and history, and stays connected to the rest of the group.
Does TaxDesk track ownership changes and their dates?
Yes. Shareholders, share classes, and share transactions are recorded with dates, and the ownership chart can be viewed as of a date. That covers associates buying in and owners retiring.
Does TaxDesk store patient or clinical records?
No. TaxDesk is for the corporate tax record. It isn’t a patient-management or medical records system, and patient information shouldn’t be stored in it.
Does TaxDesk replace our accountant?
No. Your accountant still gives advice and prepares and files returns. TaxDesk gives the practice and its approved advisors one record to work from.
Does TaxDesk file returns or connect to CRA?
No. TaxDesk doesn’t connect to CRA. You and your accountant file the way you do today, and TaxDesk records the status, dates, and documents behind each filing.
Request access
Give the whole group one tax record.
Tell us about your companies and the tax work you want in one place.