Switching accountants or tax preparers
Changing who prepares your taxes is common and simple. Here is what to ask for, what we need, and how the handover works. There is no fee to switch.
Can I change accountants during the year?
Yes, at any time. For a personal return, the easiest time is before you gather your slips for the year. For a corporation, it is easiest before the year-end work starts.
What should I ask my previous accountant for?
- Copies of your last two or three tax returns and Notices of Assessment
- For a corporation: the last T2 return and the financial statements that went with it
- The bookkeeping file or a backup of it, and any year-end adjustments
- Schedules carried from year to year, such as depreciation (capital cost allowance) on equipment and vehicles
- Payroll and GST account details, and the filing schedules
- Anything open with the CRA, such as a letter waiting for a reply
A short, polite email is usually enough. Most accountants are used to handing over files.
What does Rex Tax need?
Last year's return and Notice of Assessment, and whatever records you have for this year. See the "What to bring" list on the service you need: personal, self-employed or corporate.
What happens to CRA authorization?
You authorize us as your representative, through your CRA account or by confirming a request we send. More than one representative can be authorized at a time. You can remove the previous one in your CRA account whenever you are ready.
Can Rex Tax contact my previous accountant?
Yes, if you want us to. With your permission, we ask for the files directly, so you do not have to.
What if my books are not up to date?
That is common when people switch. We bring the books up to date first, then prepare the return. See catch-up bookkeeping. If returns are also missing, see unfiled and prior-year returns.
Can I switch before my corporation's year-end?
Yes, and it is the best time. Tell your previous accountant early, so nobody starts the same work twice. We then prepare the T2 for the year that is ending.
Is there a fee to switch?
No. You pay for the work we do on your returns and books, and we confirm that fee before we begin. See how our fees work.
Thinking of switching?
Call us or request a callback. Tell us what your previous accountant did for you, and we will explain the handover. Help is available in English, Punjabi and Hindi.