When should I be calling my accountant regarding transactions (i.e. major tax implications)?

Contact your accountant about these important transactions (before they take place) to avoid major tax implications.

It's always best to discuss the following types of transactions with your accountant before the transaction takes place. This can help avoid or minimize major tax implications for your business.

Here are some examples:

1. Asset purchases and disposals
2. Sale of your business
3. Sales of shares versus assets
4. CRA audit requests
5. Deducting non-allowable expenses
6. Deciding whether to pay wages versus dividends
7. Registering for regular GST versus the quick method

These are a few examples, but anything that feels confusing should be brought to your accountant's attention.